Related Reports - EFRI - Targeting professional financial crime enablers is key to curb cyberfraud

Law Companies working for people/resp. Financial institutions showing up in cybercrime files

Law Company People and FI showing up in cyber crime files scam involved Dr. Peter Lewisch/CERHA Hempel Rechtsanwälte, Vienna GAL BARAK xtraderfx, safemarkets, OptionStarsGlobal Norbert Wess, WKK Law Marina BARAK xtraderfx, safemarktes, OptionStarsglobal DDr. Thomas Hartl, BINDER GRÖSSWANG Rechtsanwälte GmbH, Wien Payvision B.V. xtraderfx, safemarkets, optionStarsGlobal, Option888, xmarkets, Tradovest, Tradeinvest90,

August 8, 2022 No Comments

Supervised financial institutions showing up in criminal files.

Over the last decades, the world has witnessed increasingly massive cybercrime attacks across borders. These crimes are facilitated by lawyers, company builders, supervised financial entities, crypto exchanges and other professionals who help engineer the legal and financial structures seen in the financial crimes. These professionals use their professional knowledge to

August 5, 2022 No Comments

Holding credit card companies accountable

Holding VISA accountable for processing illegal transactions!

EFRI always was convinced that payment companies like PAYVISION or Wirecard willingly and knowingly process illegal transactions for Cybercriminals are to be held accountable. The European supervisory authorities massively fail to do this job. So victims have to go legally against the fraud-enabling payment processors. EFRI supports victims that filed

August 4, 2022 No Comments

Crypto Exchanges enabling scams

Crypto Exchange Management Scam involved Supervisory authority/FIU Moonpay Limited Ivan SOTO-WRIGHT, Victor FARAMOND Bybit Malta Financial Services Authority Simplex Payment Services UAB Nimrod LEHAVI Bybit Bank of Lithunia MoneyAmber UAB; MoneyMaple Tech LTD. MoneySwap OÜ Aleksandr Vasilev, Petr Kozyakov, Antons Blohins Glaremarkets, CryptoDock, AMarkets Estonia license no 14461101 Coini-Changer; ADDM

August 4, 2022 No Comments

The New Digital Services Act – a Missed Chance!

During the past four years, the European Commission worked on legislative initiatives to upgrade the EU’s digital services rules: the Digital Services Act (DSA) and the Digital Markets Act (DMA). The Digital Services Act is aimed to establish a new set of obligations for hosting services, marketplaces, and online platforms

July 25, 2022 No Comments

Summary on proposed Crypto regulation in the EU and the United States

Over the last months, the EU regulators and the United States started to develop crypto asset regulations and frameworks that (are intended) to promote innovation and growth while protecting investors. Let us report on the most recent and important events here. . MiCA as part of the Digital Finance Package

July 22, 2022 No Comments

Most popular crypto scams and how to avoid them

Crypto scams are a plague Although we are in a crypto winter with the crash on the markets also driving down the crypto valuations, we still receive emails from victims telling us about the scammers trying to convince them to invest in promising crypto ventures. So Crypto scams are still

July 20, 2022 No Comments

Open Letter to ING and DNB about PAYVISION´s phasing out process ending June 30, 2022!

The phasing out process of PAYVISION ends today (June 30, 2022)! On October 28, 2021, ING announced that it would start phasing out the business activities of its subsidiary PAYVISION as a payment service provider (PSP) and acquirer. According to the announcement, this was done after a thorough evaluation of

June 30, 2022 No Comments

CySEC takes action against Maxigrid Ltd and initiates compensation for clients!

Administrative fines and bans for Maxigrid Ltd Finally, on June 17th 2022, The Cyprus Securities and Exchange Commission (CySEC) took action against Maxigrid Ltd. It announced administrative fines totalling € 210,000 and bans against four exercising directors for management functions in Cyprus Investment Firms (C.I.F.s). In specific, CySEC imposed the

June 23, 2022 No Comments

Marina BARAK was the acquittal a misjudgment?

MARINA BARAK – was her preliminary acquittal a misjudgement?

When German and Austrian prosecutors arrested Gal BARAK (the Wolf of Sofia) in Sofia on January 29, 2019, Marina BARAK took over the management of the boiler rooms of the cybertrading platforms xtraderfx, OptionStarsglobal, and safemarkets. Some of the victims registered with EFRI transferred money to the scam platforms by

June 3, 2022 No Comments

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