Fraud & Deception Archieven - Hupkes cs advocaten

Cypriot CFD broker LegacyFX convicted of evading AFM decision

Cypriot CFD broker LegacyFX was ordered by the District Court Midden-Nederland on May 17, 2023 to pay EUR 303,000 to an investor who had lost this amount through CFD investments. Offshore construction In our earlier post on this broker, we wrote that LegacyFX may be evading the AFM decision banning CFDs with leverage greater than 1:30. The AFM decision also contains an "anti-avoidance provision," which thus appears to work, even against a party that does [...]

Hupkes c.s. advocaten2023-05-26T11:05:02+01:0019 May 2023|Contracts for Difference (CFD Providers), Financial law, Fraud & Deception, Investment Fraud & Boiler Rooms, Unlawful Act|

The investment fraudster’s roadmap: 5 tricks a boiler room uses to defraud customers

How do you know if you have fallen into the nets of an investment fraudster, an online scam or an untrustworthy CFD broker? All these scams work according to the same playbook; step by step, the investor, who is actually a prey, is lured into the trap. Phase 1: the positive phase In the first stage, the investment fraudster does not show his true face, but presents himself as friendly and helpful as possible. He [...]

Hupkes c.s. advocaten2023-02-01T12:30:09+01:0015 December 2022|Contracts for Difference (CFD Providers), Fraud & Deception, Investment Fraud & Boiler Rooms|

Increase in fraud via Anydesk and cryptocurrency wallets

Our firm is seeing a sharp increase in fraud using "screen sharing software" from Anydesk, Teamviewer and Screenleap and cryptowallets used to siphon off money. investment fraud This is a new form of investment fraud, which begins with arousing interest in complex investments (Forex, CFDs or cryptocurrencies). The criminal organization uses an investment website where the duped person creates an account. In reality, this is a boiler room; in fact, there are no real investments [...]

Hupkes c.s. advocaten2022-09-03T15:37:50+01:003 September 2022|Asset Recovery, Cryptocurrencies, Fraud & Deception, Investment Fraud & Boiler Rooms, Unlawful Act|

ABNAMRO broadens compensation for spoofing fraud

ABNAMRO Bank has just announced that it will also compensate customers for damage caused by spoofing fraud in specific cases of "gross negligence". Until now, this bank has been stricter in assessing fees requested than the other banks. In spoofing fraud, a scammer takes possession of a victim's bank balance by calling the bank's unique number, giving the scammer the confidence that it is a real bank employee who is calling. Spoofing is technically still [...]

Hupkes c.s. advocaten2022-08-17T17:46:12+01:0013 January 2022|Duty of Care Banks, Fraud & Deception|

What is a “money mule”?

A money mule or “money mule” is a person who makes his checking account available to a criminal to receive and transfer criminal loot. If the criminal approaches the money mule, the crime (in which the bank account of the money mule plays a central role) has yet to be committed. The damage can be high.

Hupkes c.s. advocaten2022-08-17T17:58:03+01:0030 December 2020|Duty of Care Banks, Fraud & Deception, Terminology|

How to recover money from a Dutch bank in case of fraud?

It regularly happens that international fraud is committed with the help of a Dutch bank account, which is used to receive and pass on money. What does this form of fraud look like and what can be done about it? International invoicing fraud Several parties are involved in this form of fraud. In the first place, a party that trades with another party. For example: an Italian company does business with a company in Great [...]

Hupkes c.s. advocaten2022-08-17T17:51:38+01:0028 December 2020|Fraud & Deception, Invoice & CEO Fraud|

Fraud with bonds: what are “empty shells”?

The term empty shell stems from the financial world. It can relate to securities (such as, for instance, trackers or bonds) that do not have a countervalue approaching the nominal value or official exchange rate because the deposit on issue has not flowed into the capital of the issuing entity. Special purpose vehicle An example from legal practice of an empty shell is a bond loan that is not fully paid up by the enterprise [...]

Hupkes c.s. advocaten2022-08-19T11:31:26+01:0014 January 2019|Fraud & Deception|

Transaction monitoring: more fraud claims for banks?

ING has been fined by the Public Prosecution Service because the bank does not act properly against money launderers. Criminals who transfer money through ING are not dealt with properly by the bank. There are many developments in the field of money laundering, mainly due to new technological possibilities. De Nederlandsche Bank (DNB) not only supervises the stability, but – in keeping with the spirit of the times – also the integrity of the financial [...]

Hupkes c.s. advocaten2022-08-19T11:32:06+01:0015 September 2018|Duty of Care Banks, Fraud & Deception, Investment Fraud & Boiler Rooms, Liability, Unlawful Act|

Is attachment at the expense of an unknown counterparty possible?

In scams, the perpetrator likes to stay out of the picture. Banks allow scammers to open a bank account with an unclear name so that the identity of the account holder is unclear. Can the bank account still be seized then, although in a court proceeding you have to know who the other party is?

Hupkes c.s. advocaten2022-08-19T11:33:22+01:0012 August 2018|Fraud & Deception, Preservatieve Attachment, Unlawful Act|

What does undue payment mean?

Undue payment is an important term from the Dutch Civil Code (BW). The term can be used by a plaintiff in a lawsuit as a basis for ordering the other party to pay a sum of money.

Hupkes c.s. advocaten2022-08-19T11:41:16+01:0021 March 2018|Alimony, Fraud & Deception, Terminology|

Can you file for the bankruptcy of a “Limited” in the Netherlands?

Dutch entrepreneurs can set up a foreign legal entity such as the English "Limited" (Ltd.) with which they are only active in the Netherlands. Sometimes it concerns entrepreneurs with a history of fraud or bankruptcy, who - not for the first time - do not fulfill their obligations. What if you have money from such a limited and the company does not pay? Can you go to the Dutch court to file for bankruptcy or do you have to conduct expensive proceedings abroad?

Hupkes c.s. advocaten2022-08-19T11:45:38+01:0023 March 2017|Bankruptcy, Claiming Salary, Fraud & Deception, How To|

Tackling a scammer (part 2): compensation

We have received many positive responses to our article on tackling scammers dated April 2, 2016. Most of the responses came from people who have been victims of a scammer. We also received many questions about the legal means that a lawyer can use to recover the damage from a scammer. The article was about tackling scammers through civil courts. Words like “fraud” and “fraud” are not in the Civil Code. So what are the tools we use to recover money from a scammer in a lawsuit? In this article we give a look into our kitchen. This is how we work if we summon a scammer and arrange compensation for you.

Hupkes c.s. advocaten2022-08-19T11:51:42+01:0012 May 2016|Fraud & Deception, How To, Unlawful Act|

Scammed. How do you deal with a scammer?

It is always advisable to report the scammer. Scams just don't have the highest priority. Violent cases, murder and burglary often receive more attention. Moreover, investigative work in fraud and fraud cases takes a lot of manpower and time; scammers often work smart. So you should not have too high expectations of detecting and prosecuting scammers. Moreover, and that is what this article is about, recovering the embezzled money or claiming damages is not the job of the police. You need to see a lawyer for that.

Hupkes c.s. advocaten2022-08-19T11:53:51+01:002 April 2016|Fraud & Deception, How To, Unlawful Act|