Homepage > News > Beware of the new way of forex fraudsters – fake lawyers

Beware of the new way of forex fraudsters – fake lawyers

Fake brokers have started using a new method of building credibility and extorting funds. They create websites of bogus law firms and offer help to people they have cheated.

Thanks to the report on our profile, we learned about a new method of extorting money that is now used by fake Forex brokers. It is a modified version of the scam “to recover funds, transfer us 10%“. In this case, a fictitious law firm contacts an earlier victim of a forex scam. Distinctive features are the eastern accent of the callers and the lack of initial charges for accepting the case.

Fake lawyers contact a fraudulent broker (their employer) by asking them about the account of the represented client and their case. Their main task is to convince the victim that everything is fine and that the only thing that needs to be done to withdraw the funds is to pay tax on the profits. The alleged profits, on the other hand, turned out to significantly increase and reached a dizzying amount, which additionally tempts the deceived person.

If the victim takes the bait and pays, they will be deceived and induced to make further contributions, under the pretext of further taxes or non-existent regulations. The money was finally lost when the first deposit was made to a dishonest broker and no shady law firm will help in recovering it.

What to do if you have been cheated?

First of all, you should report the fraud to the police or the prosecutor’s office. If the payment to a fake broker was made via a card, the right step would be to use the chargeback procedure. If the funds have been converted on the cryptocurrency exchange, please contact its support immediately. Cryptocurrencies can be blocked if they have not left the platform. Otherwise, it may be too late to retrieve them, but investigators may still need the addresses of the cryptocurrency wallets they came across. For more tips, see here.

If we decide to use the help of a law firm, which may be a reasonable step when losing a large amount of money, the first thing to do is to check its credibility.

Author: Izabela Kamionka

Are you a trader?

Help others and rate your broker! Use the search engine or find your broker on the list.


Last news:

bucharest exchange with record value of transactions

Stocks Surge on Positive May Jobs Report and Senate Debt Ceiling Bill Approval

Stocks rallied on Friday following the release of a robust May jobs report and news ...
Read More

FDIC Reports Largest Deposit Decline in US Banks in 39 Years

US banks faced a significant setback in the first quarter as they experienced the largest ...
Read More

Nvidia CEO Receives Rock Star Reception in Taiwan as AI Stocks Surge

Jensen Huang, the CEO of chip phenomenon Nvidia Corp. (NVDA), is currently enjoying celebrity treatment ...
Read More
turkish lira

Turkish Lira Hits All-Time Low as Erdogan Wins Re-election

The Turkish lira reached a new record low following the re-election of incumbent President Recep ...
Read More

Add a comment

Your email address will not be published. Required fields are marked *


Note: Opinions and posts on ForexRev.com represent personal opinions and views of their respective authors and should not be interpreted as recommendations to purchase or sell securities. ForexRev.org assumes no responsibility or liability for such content.
Go to top