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Report the fraud to the Poliția Română immediately. For organised crime, cyber-enabled fraud, or complex schemes, DIICOT expressly accepts reports of crimes within its competence. Provide all available evidence: contracts, payment records, communications, transaction references, and identity information for the counterparty.
If the fraud involves an investment firm, forex platform, or non-bank financial entity, file a petition with the ASF (online, by email, or by post). If it involves virtual asset service providers and AML matters, report to the ONPCSB. For consumer matters, file with the ANPC. Regulatory notification creates an enforcement record and may trigger supervisory investigation.
Contact your bank or payment provider immediately to block compromised accounts and cards and initiate recall or chargeback procedures. For banking disputes not resolved by the institution, CSALB provides free ADR.
Check the counterparty’s registration, status, and any insolvency proceedings through Romanian company registers and court records. The ASF’s public warnings help verify whether the entity operates without authorisation. For real estate matters, consult the ANCPI for cadastre, land book, and title records. Insolvency entries inform the enforcement strategy.
Save all communications, contracts, invoices, payment confirmations, website screenshots, email headers, and transaction records without alteration. Digital evidence is critical for both criminal investigation and civil proceedings and may become inaccessible if platforms delete accounts or the counterparty destroys records. Evidence preservation should begin immediately upon discovery of the fraud.
Criminal complaints filed with the Poliția Română and prosecuted by the Ministerul Public / Parchet initiate formal investigation under Romanian criminal law. DIICOT handles organised crime, cyber-enabled fraud, and complex criminal schemes. Relevant offences include fraud, computer fraud, document fraud, identity fraud, money laundering, and fraudulent insolvency. Criminal proceedings provide access to investigative tools unavailable in civil litigation – bank record production orders, platform identity disclosure, telecommunications data, and international judicial cooperation through mutual legal assistance treaties and EU instruments.
Civil proceedings before Romanian courts (instanțele judecătorești) are available for contractual claims, damages, restitution, unjust enrichment, and rescission of fraudulent transactions. Insolvency proceedings are administered by the competent tribunal, with creditor claims filed through the judicial administrator or liquidator. Interim measures can be obtained to prevent dissipation of assets during proceedings. Civil litigation targets the fraudster and, where applicable, institutions that failed to prevent the fraud.
SAL-Fin is the sole ADR entity in the non-banking financial field supervised by the ASF – providing out-of-court resolution for disputes with investment firms, forex platforms, and other ASF-supervised entities. CSALB provides free ADR between consumers and banks or non-bank financial institutions for banking disputes, noting a rise in banking channel fraud cases. These mechanisms provide resolution without the full cost and duration of court proceedings.
Petitions to the ASF create enforcement records that contribute to supervisory action against the entity. The ASF confirms that petitions are used to identify unfair or potentially abusive practices. The ASF maintains public warnings on unauthorised participants. Regulatory proceedings can result in licence suspension or revocation, fines, public warnings, and mandatory corrective measures. Regulatory findings may support civil claims by establishing that the entity breached its obligations under Romanian financial law.
Criminal complaints filed within hours of discovery give investigators the best chance of tracing funds before they are moved or layered through intermediary accounts. Bank recall mechanisms are most effective when initiated on the same day as the fraudulent transaction. Regulatory notifications filed promptly create contemporaneous records that strengthen both criminal and civil proceedings.
Named counterparties with identifiable assets in Romania – bank accounts, real property, registered companies, vehicles – are the most viable targets for civil recovery and enforcement. Where the fraudster operated anonymously or through shell structures, criminal investigation through the Poliția Română, DIICOT, and Ministerul Public is the primary identification tool through bank records, platform data, and telecommunications records.
Where a regulated institution – bank, investment firm, forex platform, or entity supervised by the ASF – failed to comply with its supervisory obligations, institutional liability claims provide an alternative recovery path against a solvent, regulated defendant. These claims do not depend on the fraudster’s identifiability or asset position and are particularly relevant where the fraudster has absconded or dissipated assets.
Contracts, payment records, communications, transaction references, and digital forensic evidence form the foundation for both criminal prosecution and civil recovery. Incomplete evidence – missing transaction references, deleted communications, unrecorded oral agreements – weakens both the criminal case and the civil enforcement position. Immediate, comprehensive evidence preservation at the point of discovery is the single most important step a victim can take to support recovery.
Fraud recovery in Romania operates through criminal proceedings, civil litigation, alternative dispute resolution, and regulatory complaints – each channel serving a distinct function in identifying the fraudster, preserving assets, and achieving financial recovery. The ASF supervises the capital market, investment services, and the non-banking financial sector, with SAL-Fin as the sole ADR body in ASF-supervised sectors. DIICOT handles organised crime and cyber-enabled fraud. The ONPCSB handles AML/CFT matters for virtual asset service providers. CSALB provides free banking dispute ADR, noting a rise in banking channel fraud cases. The ANPC handles consumer protection. The ANCPI manages cadastre and land registration.
Speed of reporting determines outcomes across all channels. Criminal complaints filed immediately preserve the investigative window for fund tracing and asset identification. Bank recall and chargeback mechanisms lose effectiveness with each day of delay. Evidence preserved at the point of discovery – contracts, communications, transaction records, digital forensic data – forms the foundation for every recovery action. Formal proceedings are conducted in Romanian, making early engagement of local counsel essential for international clients.
If you suffered financial losses through fraud involving Romanian companies, institutions, or counterparties, contact Veritas Advisory Group to have your legal position assessed.
Veritas Advisory Group provides professional legal and advisory services to victims of investment and trade fraud in Europe. This article is for informational purposes only and does not constitute legal advice.
