Advance-Fee Fraud from Switzerland: Reporting to Swiss Authorities

Advance-fee fraud schemes operating from Swiss addresses exploit the country's financial reputation. This page provides practical guidance on how to identify, report, and take action against advance-fee fraud involving Swiss-registered entities, with specific reference to the Corinth Group network.

The Swiss Advance-Fee Problem

Switzerland's strong financial reputation makes it a prime jurisdiction for advance-fee schemes that rely on credibility. By registering one or more Aktiengesellschaften (AGs) in Switzerland, an entity gains a Swiss corporate address that implies regulatory oversight and financial sophistication — even when the entity holds no financial license.

The Corinth Group operates six AGs from Stadtgartenweg 6, 7000 Chur. None holds FINMA authorisation. Yet the group's website (cgoch.com) has described its entities as “registered and licensed investment funds” — a claim inconsistent with their actual regulatory status [cgoch.com archived content; FINMA public register].

How to Check if a Swiss Entity Is Authorised

Before paying any fees to a Swiss-registered entity offering financial services:

1. Search Zefix: zefix.ch provides free access to the Swiss Commercial Register. Check the entity's registration details, directors, and corporate purpose.
2. Check FINMA: The FINMA warning list identifies entities operating without proper authorisation. The FINMA authorised entities list confirms which firms hold valid licenses.
3. Verify claims: If the entity claims to be a “registered investment fund” or “licensed asset manager,” independently verify this directly with FINMA — do not rely on the entity's own representations.

How to Report Advance-Fee Fraud in Switzerland

There are several channels for reporting suspected advance-fee fraud involving Swiss entities:

1. Criminal complaint (Strafanzeige): File with the cantonal prosecutor's office (Staatsanwaltschaft) where the entity is registered. For Chur-based entities, this is the Staatsanwaltschaft Graubünden. Filing is free under Art. 146 StGB (Betrug/fraud). You do not need a Swiss lawyer to file, though legal representation is advisable for complex cases.

2. FINMA report: If the entity is conducting financial activities without authorisation, report to FINMA. FINMA can investigate unauthorised financial activity and issue enforcement orders.

3. Bundesanwaltschaft: For cross-border fraud involving multiple jurisdictions, the Swiss Federal Prosecutor (Bundesanwaltschaft) may have jurisdiction. This is appropriate when the fraud scheme operates across Swiss borders.

4. Consumer protection: Swiss consumer protection organisations (Konsumentenschutz, Fédération romande des consommateurs) can provide guidance and may take collective action.

Cross-Border Coordination

Advance-fee fraud involving Swiss entities often has cross-border elements. The Corinth Group network operates across Switzerland, the United Kingdom, Cyprus, and other jurisdictions. Victims in different countries may need to file complaints in multiple jurisdictions. Key contacts include: Action Fraud (UK), CySEC (Cyprus), SAPS Commercial Crime Unit (South Africa), and the relevant national police fraud divisions.

International coordination between prosecutors is possible through mutual legal assistance treaties (MLATs) and Eurojust (for EU member states). Swiss prosecutors can cooperate with foreign authorities through the Federal Office of Justice (Bundesamt für Justiz).

Key Facts

• File Strafanzeige with cantonal prosecutor — free under Art. 146 StGB
• Staatsanwaltschaft Graubünden for Chur-based entities
• FINMA handles complaints about unauthorised financial activities
• Bundesanwaltschaft for cross-border fraud cases
• Zefix (zefix.ch) — free Swiss commercial register search
• FINMA warning list at finma.ch — check before paying any fees
• Cross-border coordination via MLATs and Federal Office of Justice

Complaint Reports

People Involved

Related Entities

Related Investigations