France: Scammers Impersonating Caisse des Dépôts in Phone and Email Fraud

Scammers are impersonating France's Caisse des dépôts (deposit management agency) by contacting people via phone and email, claiming to help them access dormant funds in exchange for processing fees. The legitimate institution warns it never contacts customers this way and has established a reporting platform called Thesee for victims.

How the Scam Works

Scammers impersonate representatives of France's Caisse des dépôts (Deposit and Consignment Fund) by contacting members of the public via phone or email. The targets are typically non-customers of the organization. The fraudsters claim that funds related to past investments are being held by the institution and demand payment of "file fees" or "processing charges" to release these funds.

This scam exploits a legitimate French law from 2014. Under this law, banks and insurance companies are required to transfer dormant funds (from inactive bank accounts or savings products such as equity savings plans and life insurance) to the Caisse des dépôts after 10 years of inactivity. Fraudsters abuse this legitimate system, falsely claiming fees are necessary to retrieve such funds.

Warning Signs and How to Identify the Scam

Official Statement

The Caisse des dépôts has clarified that it never contacts customers directly by phone or email. Watch for these red flags:

Unsolicited phone calls or emails
Requests for fees to claim dormant funds
Pressure to provide personal or banking information
Urgency or threats to act quickly

Prevention Tips

Do Not Respond to Unsolicited Contacts: The Caisse des dépôts may receive inquiries from citizens, but it does not initiate contact with the public.
Be Suspicious of Fee Requests: Legitimate funds held by the Caisse des dépôts are never released upon advance payment of fees.
Use Official Channels: If you wish to inquire about dormant funds, contact the institution directly through its official website. France offers three official platforms: Ciclade, Agira, and Info-retraite.
Protect Your Personal Information: Never provide bank account numbers, credit card details, passport information, or other sensitive data via unsolicited calls or emails.

Where to Report

If you have been victimized or suspect fraudulent contact:

Thesee Platform: France's official reporting and complaint platform for various fraud types, including email phishing, social media account theft, romance scams, online extortion, and fraudulent sales websites.
Local Police: File a report with detailed information about the fraudulent contact.
Your Bank: Notify your financial institution immediately if you receive fraudulent instructions or suspicious requests.