Over the past few years, we have learned that cybercriminals are not deterred by the combined capabilities of all of Europe’s law enforcement agencies. Cross-border criminal investigations, in the rare case when they are opened, often take years without any action. So, cybercriminals can lead an excellent life for themselves
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
Approval 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 organisation 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 a scam impersonation, so please 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. If you wish to join the criminal case
The package of legislative proposals On 21 July 2021, the European Commission presented a package of legislative proposals aimed at combating money laundering, terrorist financing, and sanctions evasion. This proposed AML/CFT package consisted of four draft legislative acts: The EU “single rulebook” Regulation (“AMLR”) : contains provisions on conducting customer
Adverse decision of the Koblenz regional court for a Wirecard investor! On December 22, 2023, the regional court in Koblenz, Germany, ruled that Commerzbank AG – one of Germany’s largest banks – is not liable for recommending investments in Wirecard, despite being aware of irregularities within the Wirecard group (Az.
With the decision of January 10, 2024, III Zr 57/23, the Federal Supreme Court finally rejected a claim brought by a Wirecard shareholder for damages against BaFin (BGB § 839 para ntence 1 Ca; WpHG § 106 ff (F: until December 31, 2021). The Federal Supreme Court ruled that the measures
Crypto assets, hailed as a remarkable innovation, have become a perfect vehicle for fraud. Crypto assets opened the door to a shockingly high level of fraud. The lack of regulatory oversight about crypto assets contributes to the issue. Crypto assets have a different status in different jurisdictions. Even with recovery
Ruthlessness reaches a new high! Despite ongoing criminal proceedings for culpable money laundering, despite pledging to the Dutch prosecutor to remedy compliance shortcomings under the oversight of DNB, and despite being fully aware of the dirty business Payvision B.V. was in, ING Bank N.V. — one of the world’s largest
