To combat fraud, the French Government launched in November 2008, a new website to enable user to report frauds (escroquerie in French) https://www.internet-signalement.gouv.fr/PortailWeb/planets/Accueil!input.action
the complaints are investigated by police officers and then refered to the Prosecutor if the facts fit the legal offence of fraud. The police officers are a special unit of the Cybercrime unit (l'Office Central de Lutte contre la Criminalité liée aux Technologies de l'Information et de la Communication)
But actually, the headlines are misleading because the website is not simply about fraud, but about illegal and harmful content as far as I could understand on the "questions and responses" webpage, with express reference to parents monitoring their children's use of internet.
at least the process seems a bit more transparent than that of the IWF in England!