About EFRI
What is EFRI?
EFRI stands for European Funds Recovery Initiative. We are a not-for-profit organisation based in Vienna that fights on behalf of victims of online investment fraud and related payment-crime.
Is EFRI a qualified entity for collective actions?
Yes. Since 31 March 2025, EFRI is a qualified entity under Austria’s “Qualifizierte Einrichtungen Gesetz” for cross-country procedures. EFRI is listed in the Austrian and European registries of qualified entities.
Who are EFRI’s members?
More than 1,750 fraud victims from around the world have joined EFRI. Their total documented losses exceed €62.5 million.
Membership
How do I become a member?
There is a one-time membership fee of €75. You can pay via PayPal (paypal.me/EFRIBT) or bank transfer. Please email to [email protected] for bank details and the Power of Attorney form. Membership starts when the signed Power of Attorney is returned.
What does membership mean for me?
We support you as you deal with the mental and financial stress of being victimised. You gain access to guidance, documentation templates, peer groups, and our coordinated actions with authorities and counsel.
What EFRI does
Do you support individual legal actions?
Yes. We provide information and documentation to support individual criminal complaints and civil claims. If you successfully recover funds, EFRI requests a recovery-of-expenses contribution of up to 10% of the amount recovered.
Do you organise collective legal actions?
Where a case is suitable, we work with litigation funders who cover case costs in exchange for a success-based percentage. Terms are discussed with affected members before any action start
What types of fraud does EFRI focus on?
We cover online investment scams, payment fraud, APP fraud, PSP Impersonation, and related enabler liability, including failures by payment service providers and banks.
Communication and community
How will I stay informed?
We run member Telegram groups, cooperate with Facebook groups, publish updates on efri.io, and send periodic email briefings. You can subscribe to our newsletter from any page on the site.
Do you work with media?
Yes. EFRI has a free-of-charge cooperation with FinTelegram, which reports on our work and on scams reported by victims. FinTelegram maintains a broad whistleblower network.
Data and privacy
Will EFRI share or sell my personal data?
No. We do not sell or share your personal information. We use your data only to coordinate your case, communicate with authorities and counsel where needed, and to organise collective actions with your consent.
Track record
What has EFRI helped achieve so far?
With the contribution of EFRI and FinTelegram, Austrian and German law enforcement exposed the criminal organisation around Gal Barak (the “Wolf of Sofia”), Marina Barak, Gery Shalon, and Vlad Smirnov. In Vienna, Barak was convicted for running fraudulent investment schemes such as XTraderFX, OptionStarsGlobal, and SafeMarkets and was sentenced to four years in prison. Further proceedings followed in related jurisdictions.
Work with us
I am a journalist, fraud fighter, lawyer, or consumer authority. Can we cooperate?
Yes. Please contact [email protected].