The digital-asset market is slowly running into exactly the same legal questions that have shaped traditional payment law for decades: Who is liable when an inter-exchange transfer fails, is misrouted, or reaches a blocked address? Can doctrines like the Drittschadensliquidation (DSL, third-party damage liquidation) – developed in German banking law
We are now in talks with many victims across Europe as we prepare a collective action, and Payvision is the clearest proof that the EU’s ADR architecture fails fraud victims. What the public record already establishes about Payvision Wind-down and exit: ING announced the phase-out of Payvision’s PSP/acquiring business in
A Billion-Dollar Betrayal When Reuters revealed last week that Meta Platforms earns an estimated $16 billion per year from advertisements “clearly showing signs of being fraudulent,” it confirmed what EFRI warned about already in 2022: Europe’s Digital Services Act (DSA) does not protect victims of online fraud — it protects
On 6 November 2025, the Central Bank of Ireland (CBI) announced enforcement action against Coinbase Europe Limited for serious anti-money laundering (AML) monitoring failures, imposing a monetary penalty of €21,464,734 (discounted from €30,663,906 under the settlement scheme; subject to High Court confirmation). What the regulator found Scope of failure: Configuration
We have formally filed a Woo (Open Government) request with De Nederlandsche Bank (DNB) to disclose the 2020 on-site inspection report on Payvision B.V.—plus its attachments, the 2019/2020 Kroll compliance review, and the criminal complaint DNB filed regarding Payvision. Victims have waited long enough. Redact what you must; disclose what
For victims of online investment fraud, the suffering does not end when the fake trading platform disappears. It often begins again — under a new name, with a new promise, and the same underlying lie: This sentence has deceived thousands of victims across Europe. It is the foundation of a
The European Commission’s recent ADR reform package —touted as a step forward—amounts to little more than regulatory window dressing. It tweaks reporting obligations, mandates faster response times, and modestly expands the scope of covered disputes. But it deliberately avoids the core issue: the absence of binding authority and enforceable obligations
AMLA launches with big promises! As of 1 July 2025, the Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA) has opened its doors in Frankfurt am Main, the seat fixed in the founding Regulation (EU) 2024/1620. Its first chair, Bruna Szega, and an executive board drawn from
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,
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
