EFRI, a qualified entity under the Austrian Collective Redress Act (QEG), has been fighting online investment fraud across Europe. In this article, we expose Finleaks.com and Finleaks.media as a retaliatory defamation platform created by individuals connected to convicted cybercriminals. The site attacks EFRI and its leadership through false claims, personal
As representatives of EFRI, which advocates for over 1,600 victims of cybercriminals who made authorised card payments and bank transfers after being socially engineered by scammers, we write from direct experience with the devastating human cost of APP fraud. Many of these individuals lost their entire life savings and now
EFRI represents 65 victims in their claims for refunds from P2P GmbH, which are pending before the German prosecutor in Cologne. If you have also transferred money to this account and have not yet filed a claim, please get in touch. Background In 2018, the criminal syndicate led by Barak,
As legislative negotiations over the draft Payment Services Directive 3 (PSD3) and Payment Services Regulation (PSR) intensify, the debate over how — and to what extent — authorised payment fraud should be addressed through liability rules for payment service providers (PSPs) has gained urgency. (See, for example, the contribution by
The following text reflects EFRI’s account of events and EFRI’s opinions based on the documentation available to us Ethical Concerns Raised about BarentsKrans – EFRI’s perspective. BarentsKrans, one of the leading Dutch law firms, is facing growing criticism over its handling of the EFRI & Van Ruiten vs. Payvision /
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
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
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),
