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),
As stablecoins edge closer to mainstream adoption, their implications stretch far beyond digital asset markets. They are emerging as potential pillars of a new global payment infrastructure, prompting concerns not only about monetary sovereignty but also about legal liability and consumer protection. According to the Financial Times, stablecoins are expected
EFRI is now approved as a so-called “Qualified Entity” to bring collective redress actions in courts throughout the European Union. Such action under Directive (EU) 2020/1828 can either be an “injunction” or a “redress” measure. “Injunctions” generally prohibit a company from engaging in illegal practices. “Redress” measures enable a European
The Trump administration’s decision to halt the activities of the US Consumer Financial Protection Bureau (CFPB) is a critical misstep with potentially far-reaching consequences for American consumers. Established in response to the 2008 financial crisis, the CFPB has played a crucial role in promoting financial fairness, transparency, and accountability. Rolling
People keep asking us why we are so convinced that Payvision B.V., a subsidiary of ING Bank N.V., and a supervised Dutch payment institution, is liable for millions of losses suffered by thousands of innocent fraud victims between 2013 and 2019. In addition, we are also asked why we believe
It is about time for the Dutch authorities to support the victims of the Wolf of Sofia! Thousands of victims of the fraudulent websites operated by the Wolf of Sofia (Xtraderfx, Safemarkets, OptionStarsGlobal, Golden Markets) and Uwe Lenhoff (Option888, Xmarkets, Zoomtrader, Tradovest, Tradeinvest90) continue to suffer severe consequences from the
