Cybercrime Southeast Europe Newsletter No. 118

Scammed Once, Then Targeted Again – Albania Uncovers a New Scheme Targeting Victims Trying to Recover Their Money

Victims of investment fraud may become targets of another scam precisely because they have already lost money.

At the end of September, police in Tirana carried out an operation codenamed “INVESTING” against a group suspected of defrauding citizens of European Union countries through online platforms. Four people were arrested, the owner of the premises was declared wanted, and another individual is being investigated.

However, a particularly concerning aspect of the alleged scheme emerged from additional details reported by Albanian media.

After victims had already lost their money, they were allegedly contacted again – this time by individuals presenting themselves as lawyers who could help recover the lost funds.

Victims were reportedly asked to pay additional amounts ranging from €5,000 to €10,000 for the supposed recovery of their money.

Why are previous fraud victims particularly attractive targets?

Someone who has lost a significant amount of money has a strong reason to try to recover it. If fraudsters already have that person’s name, telephone number and information about the previous investment, creating a convincing story becomes much easier.

The contact may therefore no longer appear random.

Someone claiming to be a lawyer, investigator or recovery specialist may already know the name of the investment platform, the approximate amount lost or other details about the case. That information can create the impression that the person contacting the victim is genuinely involved in recovering the funds.

Materials containing names and information relating to suspected victims were also reportedly found at the premises targeted in the Tirana operation.

“We have found your money” does not mean the money actually exists

In so-called recovery scams, victims may be told that their funds have been located, frozen or are ready to be returned, but that a payment must first be made.

The requested payment may be described as a legal fee, tax, administrative charge, release fee or another supposed requirement before the funds can be transferred.

For this reason, any offer to recover lost funds should be independently verified before making another payment.

Particular caution is warranted when a person or organisation contacts you unexpectedly, already knows details about the previous fraud, and then requests a significant payment to supposedly release or recover your funds.

How can you verify who is contacting you?

If someone claims to represent a lawyer or law firm, simply confirming that a firm with that name exists is not enough.

Its official contact details should be located independently and used to verify whether the communication genuinely originates from that firm. Fraudsters may use the name of a real lawyer or company while providing a fraudulent email address, telephone number or website.

If you have previously been a victim of investment fraud, an unexpected claim that your money has been “found” should therefore be treated with particular caution.

Losing money in the first fraud should not become the entry point for a second one.

Preserve all communications, information about the people who contacted you, email addresses, telephone numbers, payment instructions and documents received before taking any further financial action.

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