Belgium Financial Services and Markets Authority warns consumers about recovery room fraud and names suspected operators

The Belgium Financial Services and Markets Authority (FSMA) issued a public warning about “recovery room” fraud, where fraudsters target victims of investment scams by offering to recover losses or obtain compensation and then steal additional funds or access. The FSMA described tactics including unsolicited calls or emails, approaches via internet searches or social media, and impersonation of law firms, accountants, police services, financial supervisors, or even legitimate entities through misuse of identity information. Typical red flags include demands for upfront fees for fictitious “administrative”, “legal” or “tax” costs, requests for remote computer access via tools such as AnyDesk (enabling spyware installation or access to online banking), and instructions to create and activate a crypto wallet. The FSMA listed suspected unlawful operators as Bunkerwallet, Financial Recovery Ltd/Financial Recovery Services LTD, Fiscor, G&P Consulting/G&P Consulting Group/GNP Consulting/Goldman and Partners Consulting Group, Krypton, and Mrkt4trd, and noted reports of impersonation using names including Crypto.com/Subcryptob, Payward LTD and Refundee. The regulator advised consumers not to respond to such offers, to file a complaint with local police if they have been victims of investment fraud, and to be especially cautious of any request to pay fees in advance, grant computer access, or activate a crypto wallet. It also reminded consumers that financial supervisors are not authorised to recover lost money and would not proactively contact victims to do so.