Fraudulent Fund Recovery Schemes Attack Online Trading Victims
Hundreds of thousands of victims worldwide lose hundreds of millions of dollars every year to these illegal online brokers searching for quick and easy profit, which is promised to them online and via phone calls by the boiler room agents. At the end of the day, the clients of these illegal brokers always lose their money and turn into devastated victims.
The desperate victims seek help from the numerous fund recovery providers that advertise massively on Google. Most of these providers are also fraud schemes. They promise the victims the quick recovery of their lost funds. Sometimes these fund recovery schemes work with fake certificates that are supposed to be issued by financial market supervisory authorities or banks. These fund recovery operators are impostors who pose as employees or partners of regulators and banks.
These fund recovery schemes fool victims into believing they are entitled to funds using these fake certificates. However, they argue, the victims would have to deposit money again to cover the costs of withdrawal or taxes. Only after depositing the funds could be paid out to them. The reality is that no money is ever paid out.
Stay far away from fraudulent fund recovery schemes. Please read more about the fraudulent activities of fund recovery providers on www.fintelegram.com.
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Active since 2018, FinTelegram (www.fintelegram.com) is a cyber financial intelligence and whistleblower platform with the mission of protecting and educating investors. FinTelegram regularly produces reports on financial service providers and issues warnings about schemes and fraudulent activities.
For more information on fund recovery schemes, please visit www.fintelegram.com.
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