A Scam in Cyprus but not in Czechia

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I was scammed by Excentral ,Cyprus.My local police deny scam,although, Cypriots admit it but want an official complaint from Czech police,my local who refuse to cooperate,so my case is scam in Cyprus but not in Czechia which isnonsense. How to reach the justice?

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Hello, I’m Nuri AI, and I’m here to provide a quick AI-generated response until a BrokerChooser Staff member can join the discussion.

I’m sorry to hear about your situation with Excentral. It sounds incredibly frustrating to deal with conflicting responses from different authorities. Here are a few steps you might consider taking:

  1. Document Everything: Make sure you have all the evidence and documentation related to your interactions with Excentral. This includes emails, transaction records, and any communication with the broker.

  2. Contact the Cyprus Securities and Exchange Commission (CySEC): Since Excentral is based in Cyprus, you can file a complaint with CySEC, the regulatory authority there. They may be able to provide guidance or take action if the broker is under their jurisdiction.

  3. Seek Legal Advice: Consider consulting with a lawyer who specializes in international financial fraud. They can provide advice on how to proceed with your case, especially when dealing with cross-border issues.

  4. Report to European Consumer Centres (ECC): The ECC network can offer assistance in cross-border disputes within the EU. They might be able to mediate between you and the authorities in Cyprus.

  5. Be Cautious of Recovery Scams: Unfortunately, there are scams that prey on victims of financial fraud, promising to recover lost funds for a fee. Be wary of anyone asking for more money to help recover your funds.

  6. Read BrokerChooser’s Guide: For more detailed information on how to handle such situations, check out this article by BrokerChooser: How to recover your funds when scammed.

I hope these steps help you move forward. A human will review your topic shortly and join the conversation to provide further assistance.

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Hey,

I’m sorry to hear about your experience with eXcentral. You are absolutely right to pursue justice—eXcentral is indeed a scam. The International Organization of Securities Commissions (IOSCO) has issued a warning against them, which you can find here.

Since your local Czech police are refusing to acknowledge the scam, but Cypriot authorities require an official complaint from them, you may need to escalate your case through alternative channels:

  1. File a Complaint with CySEC (Cyprus Securities and Exchange Commission)
  • While eXcentral is a known scam, they were once regulated by CySEC. You can submit a complaint via CySEC’s Investor Protection page.
  1. Contact the Cyprus Ombudsman or Financial Regulator
  1. EU Consumer Protection & Financial Authorities

It’s frustrating that different authorities recognize the scam differently, but by filing complaints with the appropriate EU and Cypriot institutions, you can increase your chances of recovering funds or at least holding eXcentral accountable.

I hope this helps.

Best,
Andris

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It is all useless . Cysec told me that they forwarded my complaint to investigation department which is quiet. EU consumer cernter is useless too and dont work. Ombudsman gave mi a blank form to sign agreement with his decision which he made 4 months later . Actually,I received back the most but Excentral still iwe me 5000€.They
just make excuse.

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5

Yeah, unfortunately, once the money is sent to scammers, getting it back is nearly impossible. These brokers know exactly how to delay, make excuses, and avoid paying.

That said, reporting still has some value—it creates a record of their fraud, adds pressure if enough complaints pile up, and in some cases, regulators might take action that prevents them from scamming others. It’s not a perfect solution, but it’s better than letting them operate freely.

Sorry you’re going through this. Have you tried contacting your bank or payment provider to see if there’s any chance of a chargeback?

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My bank told me to contact the police.They didn,t inform me about Chargeback options.I learned that just from foreign companies.There is a lot of bad reports about Excentr,I contacted the people regarding collective legal action,but all of them are quiet.Maybe you or your collegues could urge,police.Cysec etc.the more presure the better.
EU helping organizations protect just other EU organizations.An individual is not important.They keep telling me to hire a lawyer,but all the lawyer wants is money without a guarrantee.
J.K.

))

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Hi J.K.,

Unfortunately, once money is sent to scammers, it’s usually lost. These fraudsters are skilled at avoiding responsibility, using delays, legal loopholes, and uncooperative authorities to their advantage. That’s why no one—from banks to regulators—is really able to help in a meaningful way.

Even with pressure on CySEC, police, or EU organizations, they rarely act decisively against such scams. Collective legal actions often go nowhere because victims lose motivation or realize enforcement is weak. The truth is, tracking down scammers and recovering funds is extremely difficult, which is why they keep operating.

It’s frustrating, but at this point, the best thing to do is warn others, push for stricter regulations, and if you pursue legal action, do it knowing the odds aren’t great.

I wish I had a better answer for you.

Best,
Andris

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So,what shall I do if Czech police breach my right for fair investigation? I tried to contact the others,scamned by Excentral and complied on forums,but they are quiet. Do you know anybody scammed by Excentral whom I could contact?

Thanks.
J. K.

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Hi,there. Regarding scam broker Excentral I was advised to filé a new criminal anouncement to the Czech police If new facts were found. However,Czech police Is rubbish. Blacklist with brokera name penalty report.and particular breached law articles are no evidence fór them.

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Hey,

I completely understand how frustrating this situation is — dealing with financial scams is incredibly difficult, and in most cases, unfortunately, the safest assumption is that the money is lost.

The fact that you already tried reporting the scam is great — you’ve done what you could. At this point, focus on protecting yourself going forward. It’s still helpful to warn others so they don’t fall victim. Every report, even if it doesn’t yield immediate results, contributes to awareness and pressure on scammers.

We put together an article to support your case and help others from falling victim in the future: https://brokerchooser.com/safety/excentral-broker-safe-or-scam

I know it’s disheartening to hear that authorities sometimes seem unresponsive. Still spreading awareness is the best tool available to protect yourself and others.

Best wishes,
Andras

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Hi,
Are you saying that scam broker should get away with that? How can you apologize the fact that my case is a scam in Cyprus but not in Czechia? There is plenty of us, scamned people.We Are going to right for justice!
Some od us by Profit Level. Do you have some information about them?
Bye.
Jarmila.
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12

Hi Jarmila,

I completely understand your frustration, and I want to clarify I’m not saying scammers should get away with this. My earlier message was just meant to acknowledge how difficult it can be to recover funds once someone has been scammed, not to suggest giving up.

Regarding Profit Level, we haven’t heard much directly about them, but I found a couple of articles suggesting they are indeed also a scam:

It’s really important to stay cautious and informed, and sharing this information can help protect others from falling victim as well.

Best regards,
Andras

13

Hi there.
If you are not saying that scammers should get away with this what do you suggest me to do if Cypriot police admit the scam but Czech doesn’ t. Without Czechs Cypriots Will not do anything either.Does it make sense that my case is a scam in 1 country but no scam in other?
Jarmila.
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really? it is inbelievabale!!!

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Hi Jarmila,

I understand your frustration — it can feel very contradictory when one country recognizes a scam, but another does not. Regardless, it shouldn’t be like this, but it’s not the first time we’ve seen such a case. Different authorities have different procedures, standards of evidence, and legal frameworks, so it’s possible for one country to acknowledge a scam while another cannot or has not yet.

In situations like this, the best approach is to document everything carefully, keep all communications and transactions, and continue pursuing complaints with both authorities. Maybe if more people report the same issue, at some point the wheel might change.

It’s frustrating, but persistence and thorough documentation are the most effective tools in these cross-border scam cases.

Best wishes,
Andris

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I submitted the new facts to the Czech police but for them blacklist with the scammers name,report about the penalty they paid and the particular breached articles od law Are NOT RELEVANT FACTS which is crazy! How can I defend myself if Czech police keep rejecting the scam White the Cypriots keep informing me that they want an official complain from Czech police but don’t ask them but me! It’ all crazy. Do you know an EU autority to ask for help? All I contacted protect just EU organisations agaist scam but not an individual! They sent me again to Czech police,which is pat situation and I keep turning in the circle.

Jarmila.

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17

Hi Jarmila,

For cross-border scams within the EU, you might want to contact and report the case to Europol’s Internet Crime Reporting platform or ESMA (European Securities and Markets Authority). These organizations can sometimes push national authorities to act or advise on next steps.

Best,
Andris

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  • ESMA is not able to deal with investment fraud cases. Unfortunately, we cannot assist you in your matter.
    Hi,there.Why do you lead me to a deadlock?ESMA is not capable to help me with the scam.Czech Police doesn,t want to cooperate with Cypriots.I cannot make them work.Blacklist,report about penalty,particular breached rules are NOT relevant information for Czech Police.Europol wants a request from local police ,not mine.Chargeback-my bank has never given me this option didn,t even mentioned it.Do you have another idea how to fight against state injustice?J.K.
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And ECC Cypriot as well as Czech are both useless.
No help.
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Předmět: [BrokerChooser] [Scam Broker Check :shield:] A Scam in Cyprus but not in Czechia