By PAUL O’DONOGHUE, Senior Correspondent
FRENCH financial intelligence unit Tracfin helped stop scammers attempting to steal €400,000 from an 83 year old man.
An alert from the agency stopped the fraudsters from transferring funds to accounts abroad.
“An 83-year-old man, recent heir to a large sum, was the victim of a scam orchestrated by a relative,” Tracfin said.
The organization said investigators suspect the relative acted as an accomplice of fake wealth managers.
“On September 11, Tracfin sent a report to the public prosecutor’s office in Besançon concerning suspicious financial movements,” Tracfin said in statement.
“This alert allowed the judicial authorities to order a rapid precautionary seizure.”
Tracfin blocks scam attempt
Investigators found that a clergyman had inherited a large sum earlier this year. Feeling uneasy about managing the money, he followed a relative’s advice to invest between May and August 2025.
After an initial payment that produced interest to build trust, fraudsters persuaded the victim to transfer a larger amount, which they attempted to steal.
Fraudsters used false identities, posing as employees of Saxo Bank and claiming to be wealth managers. Investigators have questioned one of the victim’s acquaintances and suspect him of involvement. Prosecutors are investigating whether he acted alone. Or as part of an organised network.
To protect the money, a judge authorised the precautionary seizure of the funds at the request of the Besançon prosecutor’s office.
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