Summary title: Petition No 0542/2019 by R.M. (French) on behalf of Financial Fraud Victims International on measures to combat online investment fraud
Petition number: 0542/2019
Topics: Fraud and Corruption, Financial Services
Country: European Union
Name of association: Financial Fraud Victims International
Name: R. M.
The petitioner highlights the growing number of victims of online investment fraud and the lack of an adequate law enforcement response to this serious wave of cybercrime. The petitioner suggests a number of measures aimed to protect citizens and prosecute criminals, such as: a growing accountability of banks, stricter protocols for the opening of new accounts, firmer rules for the verification of domain providers, increased competences of the police in fraud matters and enhanced cooperation between law enforcement agencies. The petitioner also suggests introducing stricter international legal agreements in order to ease pursuit of cyber-based fraudsters beyond national borders, and to enforce relevant judgements..