The following complaint was filed with the BBB (Better Business Bureau) regarding a fund recovery service at financial-fraud-recovery.net:
I was scammed by financial-fraud-recovery.net, where I paid $6,000 for commission fees to recover my money. After transferring my case to Hyperledger-foundation, I was asked for additional $ funds for “coding” services, totaling $120,000. Despite promises of a payout by July 1st, I received nothing and have since been unable to contact Alex or anyone from the organization.
Scam Details:
- Scam URL: https://financial-fraud-recovery.net
- Scammer Contact Information:
- Email: adam.friedman@financial-fraud-recovery.net
- Phone: (647) 812-7128
- Location: York, ON, M9N 1L3
- Victim’s Location: SK, CAN- S7K 1Y5
- Scam Type: Investment
- Amount Lost: $120,000
Domain Analysis
The domain financial-fraud-recovery.net is a newly registered website created on August 9, 2023, and is set to expire on August 9, 2024. The registrar for this domain is HOSTINGER Operations, UAB. Privacy Protect, LLC, located at 10 Corporate Drive, Burlington, MA, USA, protects the domain’s contact information. The domain is currently under the status of clientTransferProhibited, indicating certain restrictions on its transfer to another registrar.
The website is hosted by Hostinger International Limited, with its server located in Paris, France, under the IP address 154.49.245.152.
Financial-fraud-recovery.net has minimal search traffic and authority, reflected by its Semrush Domain Rank of 24.4M and Authority Score of 2, suggesting it may be a relatively low-visibility or new site. Despite this, it has already been implicated in a significant scam, costing victims substantial money. The site claims to offer financial recovery services, but multiple victims report being defrauded after paying large sums upfront for services never rendered.
Financial-fraud-recovery.net Review
Financial Fraud Recovery presents itself as a dedicated team of cybersecurity specialists aiming to protect financial interests against evolving fraud threats. The website boasts an impressive array of services, including open-source intelligence, digital asset tracing, cyber investigations, and asset recovery. They claim to utilize cutting-edge technology, human intelligence (HUMINT), and open intelligence (OSINT) to provide actionable intelligence for recovering stolen or misused funds, particularly in cryptocurrencies.
The website provides detailed descriptions of their methodologies and tools, emphasizing their use of advanced cyber tools, firewalls, encryption procedures, and investigation management software designed by former law enforcement professionals. They assert a commitment to integrity, confidentiality, and client-focused service, offering tailored asset recovery plans based on individual cases. The site highlights its global presence, listing office locations in Stockholm, Sweden (Global Investigations Head Office), Toronto, Canada (CA Headquarters), and Budapest, Hungary (International Headquarters and Operations Center).
Key contact details provided include:
- Email: customer.support@financial-fraud-recovery.net
- International Phone: +46406829478
- Canada Phone: +16478127128
- Sweden Office: Vasagatan 11, 111 20, Stockholm, Sweden
Red Flags
- Recently Registered Domain: The website’s domain was only registered in August 2023, indicating it is a very new entity, often raising concerns about legitimacy.
- Privacy Protection: The use of privacy protection services to conceal the registrant’s details can indicate fraudulent intent, as it makes tracing the actual owners more difficult.
- Contact Information Discrepancies: The website lists multiple office locations across different countries, yet the main contact email is generic, and the phone numbers are not specific to any region.
- Lack of Verifiable Credentials: While the website mentions experienced professionals and advanced tools, there is no verifiable information about the team members’ backgrounds or qualifications.
- High Fees and Upfront Payments: Victims report being asked for substantial upfront payments without seeing any results, a common tactic among fraudulent recovery services.
- Social Media Links: The website’s social media links redirect users to generic homepages such as linkedin.com instead of specific company profiles, further diminishing its credibility and suggesting a deliberate attempt to obscure real identities and activities.
Financial Fraud Recovery Reviews
Financial Fraud Recovery presents itself as a cybersecurity firm specializing in asset recovery, cryptocurrency tracing, and cyber investigations. Despite its professional facade, numerous Trustpilot reviews suggest it is a scam.
According to a 1-star review by Rob Robson, “This is a SCAM. They tell you that they will recover your money and are very responsive until you give them money for ‘fees,’ then they stop responding.” Similar sentiments are echoed by other reviewers like Gregory Chad Martin Granger, who states, “These guys ‘claim’ that they have recovered some of my funds, but yet they refuse to comply with my contact requests.”
Another victim, Vargini, describes their experience as “disappointing and frustrating to deal with” due to poor communication and misleading information about recovery procedures, leading to significant financial and emotional distress. Barbara Macmull from Australia also highlights the lack of responsiveness, noting, “My conclusion: they are just another scammer.”
Conclusion
It is important to understand that it is not legal for companies to claim they can recover funds; only law enforcement or legal professionals have the authority to perform such actions. Companies like Financial Fraud Recovery can, at best, trace transactions and potentially identify the perpetrators, but they cannot recover funds.
Recently, law enforcement has cracked down on fake recovery services, such as mychargeback.com, which was seized by the FBI for fraudulent activities.
In light of the information gathered it becomes evident that Financial Fraud Recovery is highly likely to be a scam. The pattern of behavior reported by numerous victims—initial responsiveness followed by demands for high upfront fees and subsequent silence—fits a common scam profile. Despite the website’s professional appearance and extensive claims of expertise and advanced tools, the lack of transparency, verifiable credentials, and consistent failure to deliver promised results raise significant red flags. Troubling accounts of emotional and financial distress experienced by those who sought help from this company further underscore the potential dangers of engaging with Financial Fraud Recovery.
Bottom Line
Given these factors, potential clients should exercise extreme caution and seek alternative, verified avenues for financial recovery to avoid falling victim to what appears to be a sophisticated fraud scheme.
If you have experienced a similar scam by financial-fraud-recovery.net, please share your story to help warn others.
Stay vigilant and protect yourself from fraud!