We have been doing a deep-dive investigation into Payvision Amsterdam’s business activities. Payvision is a 100 per cent subsidiary of one of the world’s most reputable banks, ING Groep N.V. We know that Payvision wilfully served scammers like Gal Barak and Uwe Lenhoff, as described in our article here. Payvision
EFRI Founder Elfriede Sixt Interviewed by FinTelegram (Part I): The European Funds Recovery Initiative (EFRI) was founded in 2018 by CPA Elfriede Sixt, together with FinTelegram and a team of lawyers. Since then, EFRI has represented more than 1,000 scam victims, with total damages of approximately €60 million. In addition
For Part I of the interview with the EFRI founder, Elfriede Sixt, go here. Q 6. How did BitRush develop into the Lenhoff cybercrime case? Despite being aware of the money-laundering allegations, BitRush Corp.’s then Chief Technology Officer, Joachim Kalcher, teamed up with Uwe Lenhoff. He continued to push his
Today, EFRI represents 876 mainly European victims who lost their life savings of more than EUR 45.9 million to boiler room scammers. Fraud victims transferred EUR 45.9 million to beneficial owners of fraudulent websites through various European banks/financial service providers. Our updated Follow the Money evaluation (downloadable here) and our studies of the
Victims have been attacked via e-mails and phone calls from alleged EFRI employees in recent weeks. They are offering scam victims to recover their funds on a fee basis. Victims receive EFRI invoices and are asked to pay via Bitcoin (BTC). They pretend to be EFRI-employees and use the EFRI
Gal and Marina BARAK’s Bulgarian money-laundering organization On 1 September 2020, the now infamous Wolf of Sofia, Israeli citizen Gal Barak, was found guilty of serious fraud and money laundering. Barak was identified as one of the beneficial owners of a cybercrime organisation, based in Sofia, Bulgaria. 46 shell companies with
Amid the COVID-19 pandemic, hundreds of millions of people are locked down in their homes or must apply social distancing rules. Hence, their social activities are limited to social media and messenger services. The perfect environment for financial fraud is right now reaching new dimensions. Acting cross-border is an essential
PAYVISION B.V. was the primary payment service provider for big scammers PAYVISION B.V., registered in Amsterdam, is a payment service provider founded in 2002 by Rudolf BOOKER and his partners to offer payment services to online shops. PAYVISION has been granted a license as a Payment Institution under the Payment
On 1 September 2020, Gal BARAK, a citizen of Israel, 33, also called – the Wolf of Sofia – was sentenced to 4 years in prison at the Regional Court of Vienna, by the Senate of lay judges chaired by judge Christian Böhm for severe commercial fraud and money laundering
The money laundering scandals of recent years in the European Union have shown that the European Union’s banking sector, particularly, remains highly vulnerable to cross-border money laundering. Some late scandals like the #Wirecard scandal in Germany and the #Kobenhavn Andelskasse scandal or the Danske Bank scandal in Denmark made the
