The most recent Arbistar case in Spain seems to be coming up again the specter of a form of scam that has recently caught the attention of the National Securities Market Commission (CNMV) for users of cryptocurrency investments.
It is about the fraud that uses companies that act as “Recovery room‘As pointed out by ElCierreDigital in its issue this weekend, where it indicates These types of companies are “You are responsible for winning back the money some users invested in faulty products. “with the harsh reality that the supposed solution, it actually leads to increasing losses.
Because of this last year The National Securities Markets Commission in Spain had warned of the fraud that this type of company, popularly known as “Financial bars‘ As recently as last September, three companies of this type were discovered without a permit.
The case of the company is new Arbistar, of which around 32,000 families were affected, who claimed the invested capital for months, Situation apparently being taken advantage of ‘Recovery room“Seizing new victims from companies that have not been approved by the regulator, to those who promise to get the money back.
“If the company contacts you without prompting and asks money in advance to pay taxes, fees, or insurance policies in order to provide the service on offer, it is an indication that it is a recovery room.”said Sebastián Abella, president of the National Securities Market Commission.
For Abella, These types of strategies come straight from the same companies that scam people, in which all those concerned receive offers from a supposed company that is responsible for reclaiming the money invested in Bitcoin in an ultimately failed operation.
In addition, the President of the CNMV goes even further: “Neither the CNMV nor its employees will address those potentially affected directly, nor will they authorize the use of their identity, corporate image or their domain cnmv.es to compensate for losses.”
The CNMV stated in its Decalogue:Financial bars“That the modus operandi is similar in all these types of businesses and is based on the”Recovery room‘.
The Recovery room Approach to victims through the databases of thefinancial chiringuitos “ And they know everything that’s been lost
“The channels through which the ‘financial bars’ contact their potential victims are no different from those through which a legally authorized entity can disseminate its business proposals to customers or prospects: telephone, letters, email, websites, etc.
In order to establish contacts, unauthorized companies use databases, often fraudulently obtained, from which they extract addresses of people who, for example, have subscribed to a certain financial product, regularly receive an economic publication or have occasionally responded to certain surveys in which they their hobbies and their family economic situation reflected ”.
Noteworthy is Council number nine in this Decalogue, the advises that if you cannot get your money back, “Don’t make any more contributions.”
If we examine the CNMV directory for this entity type –Recovery room– We can note that a warning was issued last September about an entity discovered on the outskirts of Spain, a clone of PAYBACK LTD based in Belgium.
An indication that these types of fraudulent practices continue to occur.
Blockchain as a data protection solution
When using private user data on the Internet by third parties, often without our consent, It is common to watch databases that contain valuable information for this type of scam ‘Recovery Room’.
However, the use of decentralized techniques such as blockchain for registering files with authentication and decentralized verification systems for the transactions of the chiringuitos could be a solution to avoid these fraud cases, as pointed out some time ago by the professor Angel Barbero of EAE Business School for Byzness, com.
While, The user must learn to avoid falling into fraudulent systems, and especially not into those after falling victim to fraudwrong hope’ that usually print ‘Recovery room’ to recover what is already lost.