Forex broker clients were attacked by scammers under the guise of ARB

Clients of forex brokers began to receive letters and calls with offers to return funds from unscrupulous brokers and companies whose accounts are frozen offshore to their homeland. Fraudsters act under the guise of the Association of Russian Banks (ARB).

• The scheme of deception is as follows: the client of the forex office receives a letter - supposedly from the ARB - where he is promised to withdraw money from the account of an unscrupulous broker. The agreement is proposed to be concluded on the letterhead of the ARB, the addresses on it are indicated correctly, but the phone numbers and the name of the person who must sign the paper from the side of the association are not.
• For their services, scammers require a 7% commission on the amount of withdrawn funds.
• This is not a new scheme: "lawyers" have managed to take over the client base of forex brokers before and offer people the withdrawal of funds lost or stuck abroad for a small amount. However, never before have attackers been covered by an official organization.
• Of course, it is not worth using such offers: the money will not be returned, and the commission for services will be written off, they say in the ARB.
• Such schemes are possible because the forex market in Russia is almost completely "gray". Dozens of companies advertise their services on behalf of a Russian company, but conclude contracts on behalf of an offshore company. In the event of a conflict, it is almost impossible to find ends and return the money. There are only eight brokers licensed by the Central Bank who work exactly like Russian companies.

What do I get from this?

If you are a client of a forex broker, you may receive such an offer - in no case do not agree to it. If you are thinking about investing in the forex market, this is another reminder of the high risks in it.

Anastasia Stogney, The Bell