The Trump administration’s decision to halt the activities of the US Consumer Financial Protection Bureau (CFPB) is a critical misstep with potentially far-reaching consequences for American consumers. Established in response to the 2008 financial crisis, the CFPB has played a crucial role in promoting financial fairness, transparency, and accountability. Rolling
People keep asking us why we are so convinced that Payvision B.V., a subsidiary of ING Bank N.V., and a supervised Dutch payment institution, is liable for millions of losses suffered by thousands of innocent fraud victims between 2013 and 2019. In addition, we are also asked why we believe
It is about time for the Dutch authorities to support the victims of the Wolf of Sofia! Thousands of victims of the fraudulent websites operated by the Wolf of Sofia (Xtraderfx, Safemarkets, OptionStarsGlobal, Golden Markets) and Uwe Lenhoff (Option888, Xmarkets, Zoomtrader, Tradovest, Tradeinvest90) continue to suffer severe consequences from the
Wichtige Mitteilung an alle Betroffenen der Betrugssysteme Barak (Wolf of Sofia) und Lenhoff Wir – die European Funds Recovery Initiative (EFRI), ein in Wien eingetragener gemeinnütziger Verein zur Bekämpfung von Cyberkriminalität gegen Kleinanleger und Verbraucher – setzen uns seit mehreren Jahren aktiv für die Interessen von Opfern dieser Betrugssysteme ein.
A huge fine turns out to be a pure joke! København Andelskasse (now FS Finans VI A/S), which was heavily involved in facilitating cybercrime activities from 2016 to July 2018, has been fined DKK 794 million (€103 million) for laundering billions on behalf of international cybercriminal organisations. While this substantial
Report on the Call for Evidence about The Financial Conduct Authority The UK Financial Conduct Authority (FCA) has been exposed as a deeply flawed institution in a recent report by the All-Party Parliamentary Group (APPG) on Investment Fraud and Fairer Financial Services. This investigation highlights systemic incompetence, alarming treatment of
We are thrilled to share some important news about EFRI (European Funds Recovery Initiative): Our application for the determination of compliance with the requirements of § 4a (4) EStG 1988 has been officially approved. The authorities have confirmed that EFRI fulfills the necessary criteria. Here you can find our entry
Here’s something banks don’t tell victims when they request a chargeback or refund for card payments after realising they’ve been scammed: if you transferred your funds via a credit card payment. Section 75 of the UK Consumer Credit Act 1974 creates joint liability between credit card providers and retailers for purchases
In recent years, several high-profile cases in the Netherlands have raised serious doubts about whether justice is applied equally to all. From cryptocurrency developers to board members of banks and payment companies, these cases reveal a troubling pattern: wealth and influence often seem to provide a shield, prompting many to
Recently, Wired featured a story about the massive growth rates of pig butchering scam victims worldwide. Scams have caused extensive financial and human damage worldwide. In 2023 alone, the FBI reported nearly $4 billion in losses (mostly involving cryptocurrencies), with global estimates exceeding $75 billion over time. The impact is
