False Investment Fraud — Partial Funds Recovered from Foreign Bank

Our client lost money in a false online investment scheme. We traced the funds to a foreign bank account and, through international legal cooperation, obtained a partial recovery directly from the foreign institution. This case demonstrates the effectiveness of cross-border legal action in online fraud.

The false investment scheme

The client was approached through social media and directed to a platform promising high returns on structured investment products. The scheme used all the standard elements: professional-looking website, account manager accessible via WhatsApp, simulated returns on an online dashboard, and escalating deposit requests. The client transferred funds to a bank account abroad, believing he was investing in a real product.

International bank cooperation

Our analysis identified the foreign bank through which the client's funds had been routed. We filed a criminal complaint in Italy and then submitted a formal legal request to the foreign bank, supported by the Italian criminal proceedings, requesting a freeze of the account and disclosure of the account holder's identity. The bank, subject to EU anti-money-laundering obligations, complied with the freeze request.

Sending money abroad does not mean it is lost. EU anti-money-laundering law imposes obligations on foreign banks that we can activate through formal legal channels. The key is identifying the right institution quickly.

Outcome

A partial recovery was obtained directly from the foreign bank following the freeze of the account. The criminal proceedings in Italy are continuing with the aim of securing full restitution. Our client has recovered a significant portion of his investment.