The apparent online broker RCM sells itself as a serious platform for online trading in CFDs, Forex and other asset classes. However, evidence is mounting that unacceptable conditions prevail at RCM. More and more traders are reporting telephone terror, rip-offs and investment fraud at RCM. Traders have lost all the money they invested with RCM. Doubts are spreading. Meanwhile, many RCM traders are worried that it is an investment scam. The RCM website can still be accessed. All RCM traders are asking themselves whether they have become victims of an investment fraud? And what can RCM investors do if the suspicion of investment fraud is substantiated? How can RCM traders get their money back? Does it make sense to file a criminal complaint against RCM with the police? What help is available in the event of investment fraud?
RCM: Questionable commitments
What do the astonished traders read on r-cm.net? "In a growing atmosphere of financial uncertainty and negative interest rates that undermine the ability of individuals to secure a sustainable future, we at YourBrand have made it our goal to develop and secure investment channels that allow individuals to take responsibility for their savings. In the last 3 years, cryptocurrencies have made us understand that these currencies are not a bubble that is exploding in the market, but that this superbly growing market of virtual coins is on its way to being worth trillions of dollars. Every day there is more and more demand in our technology essence. Instead of paying very high fees and using difficult trading methods at your bank or paying an investment advisor, we offer our clients the exact same tools and much better knowledge that until recently was only available to bankers and financial managers." That's just a small sample of the suspect promises that the curious can find on RCM's website. Not a single one of these given assurances by RCM has been fulfilled. Unfortunately, the suspect business practices tend to make for disappointed investors and miserable experiences!
RCM: Hide-and-seek game with the domain entry!
Remarkable for the business practices of the RCM makers is that the website does not contain any imprint with full details of the legally responsible operators of the website. If one looks at the corresponding domain data of the website r-cm.net, one finds no reference to the operators there and finds that the website was only registered on 27.07.2021 and that the real domain owners are hiding behind the anonymisation service Whois Privacy Protection Foundation.
RCM: Who is behind it?
Many investors will find it rather difficult to answer this question, as the RCM makers do everything they can to conceal the true circumstances. This is not unusual, however, as the perpetrators often operate several of these websites with the supposedly same business model and quickly put them online, but also shut them down again just as quickly. In many cases, the top-level domain is also frequently changed, possibly in order to deceive the financial supervisory and law enforcement authorities. And who is the operator? On the website r-cm.net there is only scanty information about this. For example, in the general terms and conditions of business there is the following note: "OWNERSHIP OF SITE: r-cm.net is operated by Zavos City Center, 6th Floor 88 St., April 1st, Limassol 3311, Cyprus. operated by Zavos City Center, 6th Floor 88 St., April 1st, Limassol 3311, Cyprus. a company incorporated under the laws of Cyprus and having its registered office in Zavos City Center, 6th Floor 88 St., April 1st, Limassol 3311, Cyprus". What is striking here is that no responsible person is named. Instead, the presumed business address was simply put in the place where the name of the operator would have belonged.
A worldwide search for the RCM in the relevant registers leads to no result and makes it clear that this is a purely imaginary product.
RCM: The customer acquisition of the investment fraudsters
The same approach can be found here again and again: RCM recommendations are propagated in all kinds of media and channels. For example, advertisements are placed in the social media, such as Facebook. Often enough, the offers are false promises. To increase the deception, they upload films on YouTube in which interested investors are convinced with false references. Here, supposed celebrities report on their experiences with online trading and cryptocurrencies, often with a misleading reference to the TV show "Die Höhle der Löwen". At the same time, a mostly aggressive affiliate programme is launched to give others an incentive to beat the advertising drum for RCM.
RCM: 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 many 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. Investors usually start with a small amount of money. Beforehand, investors are 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 manipulated afterwards and unwanted transactions are carried out. In the process, the investment fraudsters often also gain access to their victims' online banking. What is particularly criminal, however, is when supposed profits are displayed on the trading platform in order to entice the customer to place further high stakes. Sometimes even small sums are paid back to lull investors into a sense of security. Who then does not want to increase the stakes further? But what happens next?
RCM: Repayment of the money will be subject to conditions
However, an exit is then usually no longer possible; rather, repayment of the money is linked to further payments. This is where the employees come in, claiming alleged tax debts and commission payments. These would first have to be settled, then the alleged profits would be paid out. For this purpose, tax and commission invoices are sent to the investors, which are often decorated with fake coats of arms and, of course, have to be paid urgently. However, it is never possible to offset them against the supposedly achieved profits. If one refuses to make these further payments, the supposed profits are often turned into losses and the customer is harmed to the maximum. However, this is usually not the end of the horror; investors are often permanently confronted with calls from other dubious providers, which indicates that the investors' contact details are further traded among the investment scammers. In the end, the "saviour" 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 "saviour" also wants a small fee - in advance!
RCM: Scheme of Investment Fraud?
The online broker RCM is not authorised. RCM lacks the legitimacy of a recognised European supervisory authority, such as the English Financial Conduct Authority (FCA)or the Cyprus Securities and Exchange Commission (CySec), which is frequently used by brokers. Similarly, there is no authorization from the Swiss Federal Financial Supervisory Authority (finma) or the Financial Market Authority (FMA) of Austria, which is responsible for Switzerland. It is also evident that RCM is a scheme of capital investment fraud. All investors harmed by RCM are advised to immediately consult an investment fraud lawyer.
RCM: Where are the fraudsters active?
Unfortunately, the illegal activities of RCM were not limited to the English-speaking world. Because Capital Swiss also addresses German-speaking investors, it is only a matter of time before the defrauded investors of this speaker group also come forward. Going through the list of regulators is recommended before any financial commitment in order to reduce the risk of becoming a victim of investment fraud.
RCM: Investors want their money back!
The constellation is far better than it appears. The aggrieved investors can defend themselves and demand the return of their invested capital. At the moment, it is unlikely that the RCM investment fraudsters will be caught in the near future, but there is still reason for hope. The reason for this is the fact that the money transactions were carried out via accounts provided by financial institutions concerned about good reputation. They have demonstrably failed to check the traders' deposits, some of which were large and therefore subject to controls, and their forwarding for legality. Such failures made the investment fraud possible in the first place.
RCM: They want their money back! How does that work?
Equipped with this knowledge, the traders would never have got involved in an investment with RCM. Now the only option left to them is to try to recover the misappropriated capital. Many investors cannot even imagine that there is any real chance of ever seeing their money back. Definitely yes! There are numerous legal bases to fall back on. The generic term is "money laundering". When investment fraudsters collect money, the offence of money laundering has been committed. Financial institutions are obliged to take action against money laundering. This is where we start with good prospects of success. First, important points must be clarified. Where were the funds misappropriated by the RCM taken? Is there a realistic chance that the traders who have been cheated will get back the money they invested with RCM? What measures should be taken from now on? A lawyer specialised in investment fraud will be happy to answer such questions thoroughly.
RCM: Who can help?
What to do in case of investment fraud? What help can victims of RCM hope for in the event of investment fraud? RCM victims will ideally find the help they need from an experienced investment fraud lawyer. He or she will be able to take care of your RCM case both in terms of the criminal aspects of investment fraud, as well as the recovery of funds and possible claims for damages. A trading lawyer is also an option because they are also aware of the methods used by fraudulent brokers such as RCM.
RCM: Follow the money trail!
Abuses of this kind in the non-regulated capital market have been pursued by the internationally active investor protection law firm Resch Rechtsanwälte for more than three decades. The RCM's way of doing things is therefore nothing new. Over the years, Resch Rechtsanwälte has developed an efficient set of tools for tracking down stolen capital and tracing the flow of funds. Making funds really disappear is becoming increasingly difficult in the age of the Internet. The faster traders follow the money trail, the more promising it is that they will see their invested capital again. Above all, it is important that those who have been harmed by RCM react immediately.
RESCH Rechtsanwälte - Experience in investor protection since 1986
If you have been a victim of RCM and want to know if and how you can get your money back, call +49 30 885 9770 or fill in the questionnaire. You will receive a free assessment of your case.