Transfers to online prospect

Can we pls finally charge Gery Shalon for his crimes in Europe?

On September 11, 2024, the 8th Global Conference on Criminal Finances and Cryptocurrencies, co-organized by the Basel Institute on Governance, Europol, and the UNODC, took place in Vienna. One of the primary topics of discussion was the increasingly concerning role of cryptocurrencies in the online gambling and casino industry. As

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Crypto Fraud Report from IC3 for 2023

Data shows Crypto Fraud is on the rise!

Investors lost a record $5.6 billion to crypto-related financial crime in 2023, up 45% from 2022, according to a report from the Federal Bureau of Investigation’s (FBI) Internet Crime Complaint Center (IC3) published recenty. While the number of cryptocurrency-related complaints  received by IC3 represents only about 10 percent of the

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Pavel Durov Telegram´s CEO

Telegram is a Cybercrime Hub!

For years Telegram has been known to be a financial cybercrime hotspot. Cybercrime is thriving on Telegram,  the popular messaging platform, with more and more cybercriminals actors choosing the encrypted messaging app as a viable alternative to the deep and dark web. For cybercriminals to shop on Telegram has both

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Un cybercrime treaty

The upcoming United Nations Cybercrime Treaty!

The United Nations has finalized a draft for a new cybercrime convention, marking the first multilateral anti-crime treaty in over 20 years and the first UN Convention against cybercrime. This draft, expected to be adopted by the General Assembly later this year, aims to become the first global legally binding

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VELTYCO´s massive accounting fraud

B90 Holdings plc: the mini-ENRON of the London Stock Exchange!

A due diligence of VELTYCO Group PLC (nowadays: B90 Holdings plc) done by the founder of EFRI  resulted in the arrest of Uwe LENHOFF and Gal BARAK and the blow up of their investment scams (option888, xmarkets, zoomtrader, xtraderfx, safemarkets, optionstarsglobal) as of the end of January 2019 (for more

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FBI closed down payback

FBI shut down Payback Ltd!

Recovery scammers are probably even worse as the original scammers! When victims realize that they got scammed they are desparate and are searching for help. This is when recovery scammers – having bought the customer (victims) lists from the original scammers – show up and offer help for a substantial

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how to fight payment fraud

How the EU plans to tackle payment fraud!

The payments landscape has undergone significant changes over the past decade. The changes have been mainly driven by fast-paced technological advancements. Digital payments in the EU have steadily increased, reaching a value of EUR 240 trillion in 2021 (compared to EUR 184.2 trillion in 2017). This trend has been accelerated

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to tackle Payment fraud

How the UK plans to tackle payment fraud!

As previously discussed, Great Britain is undeniably the frontrunner in financial crime in Europe. Being one of the global headquarters for financial services comes with a high price for the British people. In 2023, Britons lost about £459.7mn to Authorised Push payment fraud — which includes purchase scams, online investment

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Payvision settlement agreement

Booker and Cheng Liem Li fined for massive KYC-failures!

On April 5, 2024, the Dutch Prosecutor announced that the criminal charges against Payvision´s board members were settled out of court. Booker and his collegue Cheng Liem Li were found to have (2016 – April 2020) structurally and for many years violated the European Know your Customer rules and accepted

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Brokerscams

Extent of #BrokerScams in Europe!

The damage currently caused to small European investors by fraud on online trading websites (from now on, also referred to as #BrokerScams or #InvestmentScams) promising high returns for investments (right now mainly cryptos) in Europe is estimated at (at least) 1 billion euros per month (!). This is only a

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