Swiss24 - Not from Switzerland, but from the Caribbean

The supposed online broker Swiss24 sells itself as a trustworthy platform for automated online trading with cryptocurrencies. However, there is increasing evidence that Swiss24 is not doing things by the book. More and more traders are reporting telephone terror, rip-offs and investment fraud at Swiss24. Investors have lost all the money they invested with Swiss24. Serious doubts are being raised. In the meantime, many Swiss24 investors are worried that it is an investment scam. All Swiss24 investors are asking themselves whether they have fallen victim to an investment fraud? And what can Swiss24 investors do if the suspicion of investment fraud is substantiated? Will Swiss24 investors get their money back? Does it make sense to file a criminal complaint against Swiss24 with the police? What help is available in the case of investment fraud?


Swiss24: Playing hide and seek with the domain entry!
Remarkable for the business practices of the Swiss24 makers is that the website does not contain an imprint. This means that full details of the legally responsible operators of the website are missing. If one takes a look at the domain data of the Swiss24 website, there are no references to the operators. However, one learns that the domain was only registered on 04.09.2020 with NameCheap, Inc.


Swiss24: Who is behind it?
Many investors will find it rather difficult to answer this question, as the Swiss24 makers are doing everything they can to conceal the true circumstances. However, this is nothing unusual. The perpetrators usually operate several of these websites with the same fraudulent business model. These are created in advance, quickly put on the net and just as quickly shut down. The top-level domain is often changed in order to deceive the financial supervisory and law enforcement authorities. But who is the operator? On the Swiss24 website there is only scanty information about this. The company Axis Solutions LTD with the business address 8 Copthall, Roseau Valley, 00152, DOMINICA is given, but the makers of Swiss24 cannot be found under this address. In addition, there is the obligatory support e-mail address and the telephone number +447435215611. A worldwide search for Swiss24 in the relevant registers leads to no result. This makes it clear that this is a pure fantasy product.


Swiss24: The customer acquisition of the investment fraudsters
The same procedure can be found here again and again: In order to gain customers, Swiss24's offers are presented in all available media and channels. Often these are false promises. Furthermore, they upload videos on Youtube in which prospective customers 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". With the same aim, an affiliate programme is usually launched to spur others to beat the advertising drum for Swiss24.


Swiss24: 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. 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 they can supposedly receive help 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?


Swiss24: Repayment of money is tied to conditions
Once in, it is usually impossible to get out. Instead, the administrators of the investment fraudsters 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, the alleged profits are paid out. The perpetrators send investors self-made tax and commission statements, often decorated with fake coats of arms. These would have to be paid urgently. It is never possible to offset them against the alleged profits. If an investor refuses to make further deposits, supposed profits are turned into losses through senseless transactions and the client is damaged to the maximum. The horror does not end there, but investors are permanently confronted with calls from other dubious providers. This indicates that the investors' contact details are traded on among the investment fraudsters. In the end, a "saviour" regularly calls 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 department! And of course the "saviour" also wants a small fee - in advance!


Swiss24: Scheme of investment fraud?
There is no legitimisation of the online broker Swiss24. Swiss24 lacks the regulation of a recognised European financial supervisory authority, such as the English Financial Conduct Authority (FCA) or the Cyprus Securities and Exchange Commission (CySec), which is frequently used by brokers. Likewise, there is no approval from the Swiss Financial Market Supervisory Authority (finma) or the Financial Market Authority (FMA) of Austria, which is responsible for Switzerland. For this, there is a warning from BaFin dated 09.03.2021. It is also difficult to overlook the fact that Swiss24 is a scheme of capital investment fraud. All victims of Swiss24 are advised to consult an investment fraud lawyer without delay.


Swiss24: Where do the investment fraudsters operate actively?
Unfortunately, Swiss24's illegal activities were not limited to English-speaking countries. Because Swiss24 also addresses German-speaking investors, it is only a matter of time before the defrauded investors of this group of speakers also get in touch. Because Swiss24 also addresses Spanish-speaking traders, it is only a matter of time before these defrauded investors also come forward. Going through the list of regulators is advisable before any financial commitment in order to reduce the risk of becoming a victim of investment fraud.


Swiss24: Investors want their money back!
The situation is far better than it appears. The aggrieved investors can defend themselves and demand the money they invested back. As of today, it is not likely that the Swiss24 investment fraudsters will be caught soon, but there is nevertheless reason to hope. The reason for this is the fact that the money transactions took place via accounts provided by reputable financial institutions. Those responsible apparently neglected to check the investors' deposits, some of which were large and therefore subject to controls, and their onward transfer for legality. Such negligence made the investment fraud possible in the first place.


Swiss24: They want their money back! How does that work?
Equipped with this knowledge, the investors would never have got involved in an investment with Swiss24. Now the only option left for the victims is to try to recover the misappropriated money. Many investors cannot even imagine that there is any real chance of ever seeing their money again. Probably all of them are now asking themselves whether 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 offence of money laundering has been committed. Financial institutions are obliged to take action against money laundering. This is where one starts with good chances of success. Relevant points should be clarified beforehand. To what location were the funds moved by Swiss24? Are there realistic prospects that the defrauded investors will get back the money they invested with Swiss24? What action is advisable now? Such questions can best be answered by a lawyer specialising in investment fraud.


Swiss24: Who can help?
What to do in case of investment fraud? What help can victims of Swiss24 hope for in the case of investment fraud? Victims of Swiss24 will ideally find the help they need from an experienced investment fraud lawyer. He will be able to take care of your case with Swiss24 both in terms of the criminal aspects of the investment fraud, as well as the recovery of funds and possible claims for damages. A lawyer for trading also comes into question, because he is also familiar with the methods of fraudulent brokers such as Swiss24.


Swiss24: Follow the money!
The nationally active investor protection law firm Resch Rechtsanwälte has been investigating such abuses on the unregulated capital market for more than three decades. Swiss24's approach is therefore nothing new. Over time, Resch Attorneys at Law have developed an efficient range of instruments for tracking down money that has been seized and tracing the flow of funds. In times of the Internet, it is becoming increasingly difficult to make funds disappear. The faster those affected follow the money trail, the greater the chances that they will see their invested capital again. Now it is important that those harmed by Swiss24 act without delay.


RESCH Attorneys at Law - Experience in investor protection since 1986
If you have been a victim of Swiss24 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.