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Financial Crime against individuals has reached epidemic proportions in Europe
Investment fraud is one of “the most damaging” aspects of financial crime, with a growing number of investors being scammed out of their life-time savings
The monthly damage caused to European small investors by investment scams is estimated at 1 billion euros per month . This is only a rough estimate, since up to now - 10 years after the beginning of this type of crime - there has been no uniform recording of criminal complaints for this type of crime in the individual European countries..
Investment Scams in Europe
SOME OF OUR REQUESTS
Prevention
Public awareness and education campaigns have to be established and launched on a Europe-wide level to draw attention to this type of crime.
Legitimate trading websites should be forced to display warnings about the risks of the investment scams on a regular basis.
European law for seductive advertising and fraudulent advertisement activities has to be adapted to address responsibilities of social media channels in this respect.
Prosecution
An independent and decentralised prosecution office within the European Union for such cybercrime fraud of transnational organised criminal organizations with the competence (authority) to investigate, prosecute and bring to justicet crimes against European consumers/retail investors
An independent and decentralised prosecution office within the European Union for the co-ordination and supervision of strict anti-money laundering prosecution in Europe.
Criminal law has to be amended and modernized on a Europe-wide level with respect to the criminal liability of corporations and the sentencing guidelines of corporations.
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CONTACT
EFRI ETHICS STATEMENT
"We believe in the power of the Internet to improve our lives. We believe that honesty and fairness must be the guiding principles to reap the benefits of a connected world. Bad actors and fraudulent people not only cheat their investors but the whole online community. Bad actors force governments to imply tighter rules and thus endanger a free and open online world. Hence, EFRI will actively fight bad actors and fraudulent schemes. We apply a zero-tolerance policy against those people" < br/> Elfriede Sixt, CPA, manager and Co-Founder of the EFRI-InitiativeThis EU-Petition is a project of the EFRI Initiative.
EFRI IN NUMBERS
If you want to join the EFRI-Initiative or want to become a supporter, pls contact us e.sixt@efri.io
