Mühlviertel pensioner ripped off on the internet – how can you protect yourself?

In February 2020, the 73-year-old pensioner from the Urfahr area became aware of a form of investment on the Internet. A broker promised high profits. However, the alleged winnings and the amounts deposited were not paid out to the investors. By May 2021, the 73-year-old made a total of 14 transfers to various banks abroad, including to Lithuania, Thailand and Great Britain. The damage is in the five-digit euro range.

Then, in mid-January 2022, the pensioner transferred another four-digit amount, this time to a bank in Germany. Despite a written request for a refund, no refund was made because the amount of money had “already been transferred”.

Again and again people fall victim to these scammers. That is why the Austrian Federal Criminal Police Office has put together tips to protect yourself from this.

• Fast money and high chances of winning do not exist on the Internet either. If something “seems too good to be true” to you, it is most likely a scam.
• Research the internet to see if there are any warnings or complaints about these platforms or companies eg: Internet Watchlist, search engine results pages.
• In the case of trading or trading platforms, make sure that there is a corresponding license from the Financial Market Authority (FMA) and check whether there is already a warning from the FMA about this platform or the operating companies.
• Take a close look at the trading platform: Is there an imprint? Can a responsible person be reached by phone? Do you take the time to explain the business model to you? If these points don’t apply, stay away from the store.
• Read the General Terms and Conditions, or AGBs for short. Are these conclusive and serious?
• If you are contacted immediately after making your first deposit and strongly asked for more money, do not pay any additional sums.
• Credit card payments can sometimes be canceled up to three weeks and the payments can be reclaimed.
• If you have already sustained damage, be sure to report it to the nearest police station. There is no need to be ashamed – your cooperation can be helpful for investigative activities. Report the facts to the FMA as well.