The Financial Services and Markets Authority (FSMA) of Belgium is warning the public against certain companies suspected of recovery room fraud.
Recovery room fraud is a practice whereby fraudsters offer to help victims of investment fraud to obtain compensation for their losses or to recover their lost assets.
Generally, the fraudsters contact their victims by phone or by e-mail. The FSMA has noted, however, that victims sometimes come into contact with the so-called ‘recovery rooms’ while conducting internet searches or via social media. When introducing themselves, fraudsters and their companies pass themselves off as law firms or accountants, and sometimes as police services or financial supervisors.
The fraudsters do not hesitate to misuse the identity information of existing companies or official…
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