Inside EFRI

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 thousands of European retail victims can be put to an end.

The German Spiegel magazine, one of the biggest and most influenial media outlets in the German-speaking markets did a big report on our activities and spoke with two victims registered with us. It is a quite comprehensive report on how much fraud takes place and explains why we think that banks should stop being involved in such fraud.