On 10 June 2025, the European Fund Recovery Initiative (EFRI) formally submitted a disciplinary complaint to the Haagse Orde van Advocaten, the local Bar Association for The Hague, against the Dutch law firm BarentsKrans and its partner , This action follows the events previously described in our earlier publications: Ethical Concerns
BarentsKrans, one of the leading Dutch law firms, is facing growing criticism over its handling of the EFRI & Van Ruiten vs. Payvision / ING appeal case. The European Fund Recovery Initiative (EFRI), representing more than 600 victims of financial fraud, has raised serious concerns about the firm’s adherence to
The recent warning by the UK Gambling Commission to five Premier League clubs about their sponsorship ties with unlicensed gambling operators echoes a troubling pattern that European consumers are all too familiar with – the era of fraudulent binary options providers like Option888. TGP Europe: Unlicensed and Under Scrutiny AFC
On 24 April 2025, the Dutch law firm BarentsKrans formally accepted a mandate to represent EFRI and Nxx van Rxx in an appeal against Payvision/ING — a case involving more than 600 victims of large-scale online investment fraud from across Europe. On 15 May 2025, BarentsKrans ended its engagement. From
In an interesting verdict from the Copenhagen City Court, Bo Stengaard, the former CEO of Københavns Andelskasse, has been handed a four-month suspended prison sentence for violations of Denmark’s Anti-Money Laundering Act during his tenure from 2017 to 2018. Stengaard admitted his failure to act on suspicious transactions totalling approximately
In the world of crypto fraud, a new facilitator has quietly emerged: Nested Services – sometimes referred to as the “money mule equivalent” of the crypto age. These services play a critical role in laundering crypto-assets stolen from unsuspecting investors. What are Nested Services? A Nested Service is a crypto
Learning from the US Model of Financial Consumer Protection In yesterday’s article, we discussed the urgent need for a centralised consumer financial protection agency in the EU — a “European CFPB.” Today, we delve deeper into the competencies of the U.S. Consumer Financial Protection Bureau (CFPB) and compare them to
Europe Needs Its Own CFPB: Time to Rethink Consumer Protection in Payment Services As the European Union finalises its landmark Payment Services Regulation (PSR) and PSD3, we find ourselves at a critical turning point. The proposed rules under Article 59 PSR rightly aim to strengthen consumer protection in cases of
EBA finally sounded the alarm in April 2024: In its latest Opinion on new types of payment fraud and possible mitigations (EBA-Op-2024-01), the European Banking Authority (EBA) came to the conclusion that despite regulatory advancements and improved security frameworks, payment fraud remains a fast-evolving and deeply concerning threat within the
Deregulation in some areas is just a bad idea! The UK government’s drive to reduce regulatory burdens includes plans to abolish the Payment Systems Regulator (PSR), raising concerns about the future of consumer protection in the payment sector. While the PSR’s functions will transfer to the Financial Conduct Authority (FCA),
