Warning Against Fund Recovery Scam: European Funds Recovery Services (EUFRS)

Urgent warning against the EUFRS funds recovery scam
Spread financial intelligence

We are issuing an urgent warning about a deceptive operation known as the European Funds Recovery Services (EUFRS), which falsely claims to be associated with the reputable European Fund Recovery Initiative (EFRI). The EFRI, a legitimate non-profit organization based in Vienna, has been diligently working since 2018 to assist victims of online scams, collaborating with skilled lawyers across various jurisdictions to initiate lawsuits against scam-enabling entities like Payvision. Regrettably, fraudsters have been exploiting EFRI‘s respected name in an attempt to swindle victims through a clone entity—EUFRS, purportedly situated in Stockholm.

Key Data

Trading nameEUFRS
European Funds Recovery Services
Fraud activityActs as clone of EFRI
Legal entityfake entities, the scam abused the names of
Transparent Business Solutions B.V. (DBA EUFRS)
and EFRI to chase victims
JurisdictionDenmark (fake)
Contact data+46 3 3323 7384
[email protected]
Related individualsnot disclosed
Compliance ratingBlack

The EUFRS Scam Narrative

This fraudulent clone, EUFRS, alleges its operations are run through a legal entity named Transparent Business Solutions B.V. (operating under the name EUFRS), which we discovered registered in the Dutch company register. Despite claims on its website of offering solutions within the cryptocurrency space, there is a conspicuous absence of any legitimate fund recovery services mentioned.

The telephone number given is in turn provided with a Swedish country code.

It appears that EUFRS is engaging in the misuse of company data for deceitful purposes, even going so far as to include the registration details of the genuine EFRI Association based in Vienna on its website.

It’s a disturbing truth that the majority of fund recovery services are scams, often orchestrated by the same fraudsters responsible for previous online trading or gambling scams. Possessing insider knowledge, these scammers are adept at convincing their former victims with their supposed fund recovery expertise.

Victims of scams should exercise extreme caution if approached by entities claiming to be fund recovery specialists. The internet, and Google in particular, are flooded with advertisements for such dubious fund recovery schemes—a shocking but real predicament. We strongly advise against falling prey to these advertisements.

We have placed EUFRS on our black compliance list to protect the public and assist victims, strongly cautioning against engaging with this scam.

How You Can Help

If you possess any information regarding EUFRS, its operators, or facilitators, we urge you to come forward and share this with us through our whistleblower system, Whistle42. Your insights could be invaluable in preventing further victimization by these scammers and in assisting legitimate recovery efforts for those affected by online frauds.

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