Deutsche Handelsbank closes down its payment services business

Since more than two years we have been delivering information about bank accounts of Deutsche Handelsbank used for scamming peoples to the German authorities. Already when we have been working on the #Wirecard money laundering complaint (back in January 2020) it was evident that some of the scammers used both Wirecard and Deutsche Handelsbank (both […]

BULGARIA – An EU scam and money laundering hub

sofia Bulgaria, Scam hub

The money laundering system of the Gal BARAK Cybercrime organization On 1 September 2020, a first verdict was reached at the Vienna Criminal Court within the framework of the so-called Vienna Cybercrime Trials ( #VCT). The Israeli citizen Gal BARAK was found guilty of serious fraud and money laundering as operator and beneficial owner of […]

EFRI`s LETTER TO THE FATF!

EFRI Letter to FATF

As you read this blog post, the #Wirecard tsunami sweeps over Germany and destroys the reputation of the capital market and its institutions. The responsible authorities (mainly #BAFIN) and involved companies (mainly #EY Germany) are blaming each other and are trying to overcome the issue. The frightening truth is that Germany has a systemic problem with cybercrime and money laundering.

EFRI`s criminal complaint against B2G

When we started to collect the deposit slips of the many victims who registered with us, some registered and unregistered (illegal) payment service providers continuously kept showing up. One of these very often showing up illegal payment service provider was B2G GmbH, a German company owned and managed by Rainer Treuer and Oleg Shvartsman. B2G […]

EFRI´s Wirecard Money laundering complaint

As the end of June 2020 Wirecard a DAX- listed Financial Service Company imploded. Wirecard has enabled fraudsters to receive and distribute illegal funds for more then two decades. They played a crucial part for the explosion of Cybercrime in Europe. Our story with Wirecard started back in 2016 when the founder of Fintelegram met […]

Spiegel Report on EFRI 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. Mainly because we think that only if the European banks or the acquiring organizations stop to facilitate the money flow from the victims to the fraudsters the ongoing fraud on […]