B

BaFin cease-and-desist order against unauthorized payment processor Fronter Decision

BaFin issues cease and desist orders against illegal payment processors
Spread financial intelligence

Fronter Decision GmbH, registered in Offenbach, Germany, was entered into the commercial register in April 2019. The Ukrainian Nikitin Oleksiy was appointed as the sole managing director. In fact, many of the German money laundering companies have Ukrainian directors. As non-EU citizens, these are hardly legally enforceable. BaFin issued a cease-and-desist order against the company in November 2020, which is now final.

According to the BaFin findings, and in the regulator’s noble wording, Fronter Decision accepts funds from private persons on its own accounts for the sole purpose of transferring these funds to foreign accounts of companies mainly based abroad. The brutal truth is that Fronter Decision acts as an illegal payment processor for high-risk transactions and scams funds laundered through its bank accounts and forwarded to the respective operators. Another money launderer in Germany.

Leave a Reply

Your email address will not be published. Required fields are marked *