Hanfa warns of the use of fraudulent letters from Hanfa and other institutions in investment scams
The Croatian Financial Services Supervisory Agency (Hanfa) is alerting the public to an investment scam in which fraudulent letters supposedly from Hanfa, the European Central Bank, and FINRA (falsely mimicking the logo and name of the Croatian agency FINA) are being used to deceive individuals.
A recent case involving such practices was identified with the online platform Horizons 28.
The scam involves the use of forged letterheads and logos from these institutions, including falsified signatures of actual members of Hanfa Board, in order to make the correspondence appear more credible.
All of the fraudulent letters, regardless of the impersonated sender, include demands for additional payments, supposedly required to enable the disbursement of previously invested funds and generated profits. Victims are falsely told that their funds are “on hold” and that a certain percentage must be paid in advance.
These additional payments are requested under the pretext of paying taxes, fees or concluding an insurance policy as a condition to continue the payment process, which is allegedly "on hold". The requests are usually marked as “urgent,” with payment demanded within a very short timeframe.
Some of the letters even include the victim’s personal IBAN number (which the individual likely disclosed to the fraudsters), and although the letters may look professionally crafted, they do not provide any legitimate contact information or phone numbers for the institution they claim to represent.
Hanfa emphasises once again that it never contacts individuals with requests for payments in relation to investments, taxes, or insurance coverage. These communications are always part of a broader, ongoing scam that victims unknowingly fall into.
We urge citizens not to entrust their money to unverified “financial advisers,” as these are most often fraudsters. Those wishing to invest their money should do so only through authorised intermediaries (investment firms, brokers, or banks), whose information can be verified through the official Registers available on Hanfa’s website (here).
If someone suspects they are a victim of fraud, they should avoid further communication with the perpetrators and immediately report the incident to the police or relevant authorities. For any questions or concerns, citizens can also contact Hanfa directly by phone: 01/6173-281 or via e-mail: potrosaci@hanfa.hr.
