EOCFX - British financial regulator FCA warns against clone
The supposed online broker EOCFX sells itself as a trustworthy platform for automated online trading with cryptocurrencies. However, there is increasing information that unacceptable conditions prevail at EOCFX. Reports from traders about EOCFX are piling up, talking about telephone terror, rip-offs, and investment fraud. All have lost their capital invested with EOCFX. Doubts are in the air. Meanwhile, many investors of EOCFX are afraid that it is investment fraud. All investors of EOCFX are wondering if they have become victims of investment fraud? And what can EOCFX investors do if the suspicion of investment fraud is confirmed? How can EOCFX investors get their money back? Does it make sense to file a criminal complaint against EOCFX with the police? What help is available in case of investment fraud?
EOCFX: Unbelievable affirmations on eocfx.com!
What do the perplexed visitors read on www.eocfx.com? "Quality service is our company's imperative and our foundation. Without your support and trust, we cannot grow our brand and influence...Our success is closely tied to you...We want you to see us as your fintech partner. We will be with you on your trading journey...You will have a dedicated account manager to take care of all your questions...We are not only forex brokers and financial technology companies, but also your partners and friends." This is just a small sample of the suspect promises that prospective clients can find on EOCFX's website. None of these given promises by EOCFX were kept. Unfortunately, the suspicious business practices rather make for disappointed investors and bad experiences!
EOCFX: Hide-and-seek game with the domain entry!
Remarkable for the business practices of the EOCFX makers is that the website does not contain an imprint. Thus, the complete information about the legally responsible operators of the website is missing. If you take a look at the domain data of the website of EOCFX, there are no references to the operators to be found. However, one learns that the domain was registered with GoDaddy.com, LLC. only on 04/24/2021.
EOCFX: Who is behind it?
Answering this question will be rather difficult for many investors, as the EOCFX makers do everything to conceal the true circumstances. However, this is nothing unusual. The perpetrators mostly operate several of these websites with the same fraudulent business model. These are created in advance, quickly put online, and just as quickly shut down. The top-level domain is often changed to deceive financial regulators and law enforcement agencies. But who is the operator? There is very sparse information about this on the EOCFX website. No company is given only the business address 8 Financial Street, Central, Hong Kong, but the makers of EOCFX cannot be found under this address. There is neither a mandatory support email address nor a phone number. The worldwide search for EOCFX in the relevant registers leads to no results. This makes it clear that this is a pure fantasy product.
EOCFX: The customer acquisition of the investment fraudsters
Here the same procedure is found again and again: To win investors the recommendations of EOCFX are advertised in all possible media and channels. Often these offers are false promises. To increase the deception, they upload videos on Youtube or Vimeo, in which interested investors are convinced with fictitious references. Here, supposed celebrities report on their experiences with online trading and cryptocurrencies, often with the erroneous reference to the TV show "Die Höhle der Löwen". In parallel, an affiliate program is often launched to incite others to beat the advertising drum for EOCFX.
EOCFX: Criminal Business Practices
As soon as the customer has registered on the trading platform, he receives calls from alleged financial brokers who like to refer to their years of experience and their satisfied customer base. In many cases, however, the makers of this business model are fraudsters, against whom the Federal Criminal Police Office and the Federal Financial Supervisory Authority (BaFin) also warn. Usually, the investors start with a small sum as employment. Beforehand, investors are also often motivated to install remote maintenance software, such as AnyDesk or TeamViewer on their computers, so that assistance can supposedly be provided with the first steps. In many cases, the computer is subsequently manipulated and unwanted transactions are carried out. In the process, the investment fraudsters also frequently gain access to their victims' online banking. What is particularly criminal, however, is when supposed profits are displayed on the trading platform to entice the customer to place further high stakes. In some cases, even small sums are returned to lull investors into a sense of security. Who then does not want to increase the stakes further? But what happens next?
EOCFX: Repayment of money is subject to conditions
Once in, an exit is mostly impossible. Rather, the administrators of the investment scammers tie the repayment of the money to further deposits. This is where employees come in, claiming alleged tax debts and commission payments. If these are settled, it would come to the disbursement of the allegedly obtained profits. The perpetrators send the investors self-made tax and commission statements, often decorated with fake coats of arms. These would have to be paid urgently. A clearing with the allegedly obtained profits is never possible. If an investor refuses further deposits, alleged profits are converted by senseless transactions into losses and the customer is maximally damaged. This is not the end of the horror, but investors are permanently confronted with calls from other dubious providers. This indicates that the contact details of the investors are further traded among the investment fraudsters. In the end, a "savior" regularly comes forward, claiming to have uncovered the whole scam. He impresses with his insider knowledge. No wonder, since he is part of the fraud gang. The next rip-off! And of course, the "savior" wants a small fee - in advance!
EOCFX: Scheme of investment fraud?
There is no legitimization of the online broker EOCFX. EOCFX lacks the authorization of a recognized European supervisory authority, such as the English Financial Conduct Authority (FCA) or the Cyprus Securities and Exchange Commission (CySec), which is often used by brokers. Likewise, there is no authorization from the Swiss Financial Market Supervisory Authority (finma), which is responsible for Switzerland, or the Financial Market Authority (FMA) of Austria. For this, there is a warning from the FCA dated 05.10.2021. It is hard to miss that EOCFX is a scheme of capital investment fraud. All investors harmed by EOCFX should be advised to consult an investment fraud attorney immediately.
EOCFX: Where are the investment fraudsters actively operating?
Investors are dealing with EOCFX investment fraud in Germany, Switzerland, and Austria. Unfortunately, EOCFX's activities are not limited to German-speaking countries. Since EOCFX addresses Chinese-speaking investors as well, it is not surprising that the defrauded traders from the corresponding countries also come forward. A look at the list of regulators is recommended before making any financial commitment to reduce the risk of becoming a victim of investment fraud.
EOCFX: Investors want their money back!
The situation is far better than it seems. The aggrieved investors can take action against the investment fraud and demand their invested money back. As of today, it is not expected that the EOCFX investment fraudsters will be caught soon, but there is still reason for hope. The reason for this is the fact that the money transactions were made through accounts that were provided by reputable financial institutions. They undoubtedly failed to check for illegality the sometimes high and therefore controllable deposits of investors and their forwarding. Such omissions enabled the investment fraudsters to do their criminal work only.
EOCFX: They want their money back! How does it work?
Equipped with this knowledge, investors would never have gotten involved in an investment with EOCFX. Now the only option left for the defrauded is to try to get their money back. Many investors cannot even imagine that there is any real chance of ever seeing their money back. Probably all of them are now wondering if they can get their money back? Clearly yes! There are numerous legal bases to fall back on. The generic term is "money laundering." When investment fraudsters collect money, the crime of money laundering is committed. Financial institutions must take action against money laundering. This is where one starts with good chances of success. Relevant questions must be clarified beforehand. For what purpose did the funds misappropriated by EOCFX flow? Are there realistic prospects that the victims of the investment fraudsters will get back their money invested with EOCFX? What precautions are needed from now on? An attorney specializing in investment fraud can provide comprehensive answers to these questions.
EOCFX: Who can help?
What to do in case of investment fraud? What help with investment fraud can victims of EOCFX hope for? EOCFX victims will ideally find the help they need from an experienced investment fraud attorney. He or she will be able to take care of your case with EOCFX both in terms of the criminal aspects of the investment fraud and the recovery of funds and possible claims for damages. A lawyer for trading is also a possibility because he is also familiar with the methods of fraudulent brokers, such as EOCFX.
EOCFX: Follow the money!
The internationally active investor protection law firm Resch Rechtsanwälte has been investigating such abuses in the non-regulated capital market for more than 30 years. The procedure of the EOCFX is thus nothing new. Over the decades, Resch Rechtsanwälte has developed a comprehensive set of tools for tracking down the sums of money that have been seized and tracing the flow of funds. In times of the internet, it has become really difficult to make funds disappear. The sooner investors follow the money trail, the greater the chances that they will see their invested capital again. Above all, investors must harm by EOCFX takes action without delay.
RESCH Attorneys at Law - Experience in investor protection since 1986
If you have become a victim of EOCFX and want to know if and how you can get your money back, call +49 30 885 9770 or fill out the questionnaire. You will receive a free assessment of your case.
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