Our European Funds Recovery Initiative (EFRI) was founded in Vienna at the end of 2018 against the background of the extensive Investment Scams going on worldwide. In fact, hundreds of thousands of retail investors and consumers around the world have been harmed by investment scams. The situation is particularly bad in the EU. Scammers can only be prosecuted by the respective authorities within their respective jurisdictions. In contrast to the United States, there is no FBI in the EU, i.e. no central prosecution authority at the EU level.
Scammers know that the EU is a much better place than the United States to defraud retail investors and consumers. That is why the number of victims and the losses are exploding. Law enforcement, prosecutors and regulators in the various jurisdictions are watching helplessly leaving the victims alone. Supranational institutions and organizations are needed to prosecute scammers effectively and efficiently. That is why EFRI is needed.
EFRI’s mission is to be the advocate of consumers and small investors in the fight against scammers and cybercrime. For this purpose we have recently founded the EFRI NGO in Vienna. Pls find more about this not-for profit organization here. There, small investors and injured parties can register as members and together, we will the fight against the cybercriminals and hold the European organizations who enable the fraudsters who stole your lifesavings accountable. Together we have a loud voice and are to be heard by the EU and national authorities. Together we can ensure that cybercrime is effectively combated in the EU.