On April 5, 2024, the Dutch Prosecutor announced that the criminal charges against Payvision´s board members were settled out of court. Booker and his collegue Cheng Liem Li were found to have (2016 – April 2020) structurally and for many years violated the European Know your Customer rules and accepted
The damage currently caused to small European investors by fraud on online trading websites (from now on, also referred to as #BrokerScams or #InvestmentScams) promising high returns for investments (right now mainly cryptos) in Europe is estimated at (at least) 1 billion euros per month (!). This is only a
Over the past few years, we have learned that cybercriminals are not afraid of all of European law enforcement’s capabilities. Cross-border criminal investigations—in the rare case when opened—take years without any action. So, cybercriminals can make an excellent life for themselves for years with the victims’ money: expensive cars, expensive
On 22 February 2024, the EU Council and the EU Parliament voted 28 to 26 to establish the new Anti-Money Laundering Authority in Frankfurt, Germany. This authority, anticipated in the highly regarded EU Anti-Money Laundering (AML) Package, is expected to play a crucial role in combating money laundering within the
Approvement of the new EU Instant Payments Regulation! On 7th February 2024, the European Parliament formally approved the new Instant Payments Regulation. Under the new regulations for Instant Payments (also known as Real-Time Payments), all European payment providers are required to give their customers the option to conduct Euro-denominated credit
For over four years, we have meticulously examined criminal files to decipher the operations of Barak and Lenhoff´s criminal organization and the involvement of Payment Service Providers (PSPs) in these schemes. In recent months, as we collected information for the ongoing civil proceedings against Payvision and Deutsche Bank, we have
EUFRS.ORG is an impersonation scam, so pls take care and avoid any interaction! Scammers also use these impersonation emails, more to come soon; (pls do not react): [email protected]; EFRI Recovery <[email protected]> We filed a criminal complaint with the local prosecutor in Austria. In case you want to join the criminal
The package of legislative proposals On 21 July 2021, the European Commission presented a package of legislative proposals designed to combat money laundering, terrorist financing and sanctions evasion. . This proposed AML/CFT Package included four pieces of draft legislation which consist of: The EU “single rulebook” Regulation ( “AMLR” ):
Adverse decision of the Koblenz regional court for a Wirecard investor! On December 22, 2023, the regional court in Koblenz, Germany decided that Commerzbank AG – one of the biggest banks in Germany – is not liable for recommending investments in Wirecard although knowing about irregularities within the Wirecard group
With decision of January 10, 2024 III Zr 57/23 the German Federal Supreme Court finally rejected a claim brought by a Wirecard shareholder for damages against BaFin (BGB § 839 para. 1 sentence 1 Ca; WpHG § 106 ff (F: until December 31, 2021). The Federal Supreme Court found that
EFRI is the abbreviation for European Funds Recovery Initiative. The legal entity behind this Initiative is a not-for-profit organisation (EFRI-Association) registered in Vienna, Austria. Here you can read the statutes of the not-for-profit organization. Read More
