Cross-Border Case Coordination

Financial fraud increasingly operates across borders, with fraudulent platforms registered in one jurisdiction, processing payments through another, and targeting victims in a third. This fragmentation of operations across multiple Member States creates significant challenges for affected individuals attempting to seek recourse through a single national authority. EFPG provides structured coordination of case-related documentation and regulatory submissions across multiple jurisdictions, ensuring that each relevant authority receives a complete and properly formatted complaint package that accounts for the cross-border elements of the case.

What This Involves

• Mapping the jurisdictional structure of the fraudulent operation, identifying all Member States where the entity is registered, operates, or processes payments.
• Identification of all competent supervisory authorities and determination of which authority has primary supervisory responsibility under the MiFID II passporting framework.
• Preparation of coordinated complaint packages tailored to the specific requirements of each identified authority.
• Liaison documentation for ESMA and EBA where supervisory convergence mechanisms may be applicable.
• Coordination with banking institutions across multiple jurisdictions for parallel recall and dispute procedures.

Who Is This For

• Individuals whose case involves a platform registered in a different country from where they reside or made payments.
• Victims of fraud schemes that operate through networks of entities in multiple EU/EEA Member States.
• Clients whose banks and the receiving institution are in different jurisdictions, complicating recall and dispute procedures.
• Individuals who have already filed a complaint in one jurisdiction but need to extend coverage to additional authorities.

Regulatory Context

The MiFID II framework establishes a passporting regime that allows investment firms authorised in one Member State to offer services across the EEA. However, this framework also creates supervisory complexities when firms operate across borders without proper authorisation. The European Supervisory Authorities (ESAs) play a coordinating role in cross-border cases, and ESMA maintains mechanisms for supervisory convergence. The Payment Services Directive 2 (PSD2) establishes the framework for cross-border payment service provision and the obligations of payment service providers regarding transaction monitoring and fraud prevention. The Anti-Money Laundering Directives (AMLD 4, 5, and 6) govern the obligations of financial institutions across the EU to report suspicious transactions and cooperate with Financial Intelligence Units (FIUs).

Our Process