FSMA Reiterates Warning, Flags These Entities Suspected of Recovery Room Fraud

The Belgian Financial Services and Markets Authority (FSMA) has issued a new warning to the public about companies suspected of engaging in recovery room fraud. This deceptive practice involves fraudsters offering to help victims of investment fraud recover their lost funds or secure compensation, only to exploit them further.

The FSMA has identified the following entities operating unlawfully and has cautioned against them:

• Bunkerwallet (https://bunkerwallet.io/)
• Financial Recovery Ltd or Financial Recovery Services LTD
• Fiscor (https://fiscor.org/) 
• G&P Consulting or G&P Consulting Group, or GNP Consulting or Goldman and Partners Consulting Group (https://gnp.consulting/ or https://gnpconsulting.cc or https://gnpconsulting.com) 
• Krypton (https://krpton.bz or https://krypton.so or https://krypton.sx/ or https://krypton.ec/)
• Mrkt4trd (https://mrkt4trd.com) 

The regulator also flagged several cases where scammers usurped the names of several known entities to deceive consumers. Consumers have reported fraudulent activities under the names of Crypto.com and Subcryptob, using a website titled "https://supcryptob.com/", as well as Payward LTD and Refundee.

The FSMA also noted the impersonation of official or control authorities to give consumers the impression that they are legitimate. Scammers often pretend to be those official bodies, claim to collaborate with these organizations, or falsely present themselves as law firms, accountants, police services, or supervisory bodies. They typically charge victims fees under the pretense of covering administrative, legal, or tax-related costs.

In some cases, fraudsters lure victims with promises of free services, then install spyware on their computers or access their PC-Bankings. Victims may also sometimes be instructed to create and activate wallets on cryptocurrency platforms.

The FSMA emphasized that in all cases, fraudsters manage to steal money from consumers. Once payments are made to fraudsters, they disappear without a trace, making it nearly impossible to recover the lost money. The regulator thus advises absolutely against responding to such offers.