Shame, anger and helplessness – these are common feelings of victims of investment fraud. They often end up asking: “Would reporting this actually achieve anything?” However, their silence only shields the perpetrators. The Austrian Financial Market Authority (FMA) explains why it is so important for victims to come forward and report what has happened in the latest edition of its consumer information series “Let’s talk about money”.
How police reports prove decisive
Every report helps the police to recognise new scams more quickly, and to adapt investigations towards new scams. Even the tiniest digital trace can prove to be the decisive puzzle piece in a sea of clues. In addition: You will be only be able to assert claims against the perpetrators if you have made an official report.
Reports made to the FMA also have direct and preventive effects
Reports made to the FMA are passed on to increase awareness, and for media and preventive work. Where the provider is unauthorised, then the FMA publishes investor warnings. Where criminal offences are suspected, the FMA files a report with the Public Prosecutor’s Office (Staatsanwaltschaft). Evidence like payee account numbers or transaction data also assist in preventing money laundering and terrorist financing, and are made available to national and international working groups that develop coordinated measures throughout Europe.
Every report matters – whether to the police or the FMA
Reports increase investment fraud visibility, support investigative and supervisory work, and improves the chances that perpetrators are held responsible for their actions. Anyone who reports an incident contributes towards greater security and transparency in the financial market.
The current edition of “Let’s talk about money” can be found in English, along with all past editions on the website https://redenwiruebergeld.fma.gv.at/en. You can also follow “Reden wir über Geld” on Instagram: @redenwiruebergeld.
Journalists may address further enquiries to
Boris Gröndahl (FMA Media Spokesperson)
Telephone: +43 (1) 249 59-6010
Mobile: +43 676 8824 9995
E-Mail: [email protected]