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Another regulator warning against FX Leader broker scam facilitated by Praxis Cashier

BaFin cease and desist order against FX Leader and SwissCapital aka SwisCapital
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The Austrian Financial Markets Authority (FMA) issued an investor warning against the broker scam FX Leader (www.fx-leader.com) allegedly operated by FX-leader Limited, St. Vincent and the Grenadines. In July 2020, the German regulator BaFin issued a cease and desist order against the scam broker (read this report). The FX Leader scam is directly linked to the SwisCapital (www.swiscapital.com) scam. The latter already vanished and was operated by the offshore entity ScissCapital Limited, also registered in St. Vincent and the Grenadines.

FX Leader payment terms

We know that it almost becomes boring to discover Praxis Cashier as a payment facilitator in a scam. In fact, our research team is already placing bets on whether the Israeli-Cypriot payment processor will appear in a scam. Well, it does in the FX Leader scam. Praxis Cashier System Ltd (d/b/a Praxis Cashier or Praxis Pay) of the Israeli Amit Klatchko used to be integrated to process its credit card payments. When re-checking the scam today, we found that the Praxis Cashier payment option no longer worked properly. However, it worked for many months and enabled the fraud.

CategoriesBaFin FMA

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