ESG criteria

What about the S and the G in ESG?

It became a modern trend in the financial sector that each organization likes to provide sophisticated wordings about the importance of sustainable finance and the application of Environmental, Social, and Governance (ESG) criteria in their day-to-day business and asset allocation. Above all big banks and financial institutions heavily publish about

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HSBC cybercrime

HSBC – a dirty bank as an accomplice of big style cybercrime!

EFRI, an association based in Vienna, Austria, set up in spring 2020, by now represents more than 1,052 European consumers who were defrauded by cybercriminals. As of writing the victims lost over EUR 59.2 million in the form of investment scams also referred to as boiler room scams. HSBC, one

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EBA to start to do a proper job

EBA has finally to do a proper job!

In preparing the civil legal claims against PAYVISION B.V., we dig deeply into the criminal files for Option888 and the Wolf of Sofia. We learn a lot about how these fraudulent schemes work. In addition, we also know a lot about the enablers of these enormous fraudulent activities. Unscrupulous regulated

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Interwiew with EFRI Founder Elfriede Sixt

First, they laughed, then they threatened, and finally, they got arrested!

EFRI Founder, Elfriede Sixt, did an interview with Fintelegram. We copied it n here: The European Fund Recovery Initiative (EFRI) was founded in 2018 by the CPA Elfriede Sixt joint effort with FinTelegram and lawyers. EFRI represents more than 1,000 scam victims by now with around 60 million euros damages. Besides assisting victims,

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Hong Kong a center for scammers

Hong Kong is a great place for scammers!

  Amid the COVID-19 pandemics, dozens of millions of people are locked down in their home office 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

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Strictly avoid Recovery Scams

Strictly avoid recovery scammers!

All investment scams out there show a similar pattern. The victim´s trading account shows massive gains and growing balances during the initial phase. When the victims start to request the withdrawal of the funds, communication with trading people gets complicated. No email communication is possible any longer. Unagreed trades result

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Money laundering complaints

EFRI filed again money-laundering complaints

As discussed in our latest blog post, EFRI continues to file money-laundering complaints against scam facilitating payment processors based on the documentation provided by victims. We think that only if the European banks or the acquiring organizations stop to enable the money flow from the victims to the fraudsters the ongoing

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