Category: Compliance Rating

illegal casino operator Starscream and the flow of money via CyprusS
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September 12, 2024

Starscream Casinos: Offshore Casino Operator, Potential Regulatory Evasion, Payment Facilitators, and More Cyprus Connections!

Online casinos are easily transferable digital assets. The transfer of Gammix Ltd's casinos to offshore operator Starscream Ltd raises serious questions about the continued illegal gambling activities in Europe. Despite massive penalties from the Dutch regulator KSA, Gammix appears to have simply shifted its operations offshore, where it continues to flout regulatory oversight facilitated by regulated payment processors.
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Zet Casino operatorsR
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July 28, 2024

Review: Former Rabidi Scheme Zet Casino Continues to Operate with Cyprus-Based Payment Agent!

Zet Casino is one of the former brands of the bankrupt operator Rabidi N.V. It's currently operated by Liernin Enterprises Ltd, registered in the Marshall Islands, and the payment agent Mirata Services Ltd, registered in Cyprus. Zet Casino has an offshore license in the Philippines, which is not accepted in the EEA regions. Nevertheless, players from the EEA regions and the UK are accepted without any problems and can make deposits. Here is our review.
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FinTelegram issues warning against PlayRegal and Continent PayR
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July 10, 2024

Review: Illegal Gambling Scheme PlayRegal Facilitated by the Continent Pay Network!

PlayRegal is a scheme mirroring the previously exposed and illegally operating online casino, Atlantis Slots. Both platforms utilize the same payment facilitators. Following our investigation, Atlantis Slots has removed references to its alleged operating company in Curacao and its Cypriot payment agent. Likewise, the PlayRegal website fails to provide information about the operators. Evidence suggests that both schemes are operated by the same individuals.
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Sureswipe EMI dba Revsto and its network of brands and domainsR
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July 9, 2024

Review: The Networked Cyprus-Based High-Risk Payment Prozessor Sureswipe E.M.I.

Sureswipe E.M.I. operates as an e-money institution (EMI) within high-risk segments such as online casinos, sports betting, and gambling, primarily through licensed domains and brands rather than its own Revsto brand. The licensing from EMD agents to service merchants in these segments raises significant transparency concerns. The company’s regulated status by the Central Bank of Cyprus and its lack of disclosure about its high-risk segment activities further compound these concerns.
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Payback partners with ScamadviserA
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June 26, 2024

Attention: Another Regulatory Warning Against Israeli Fund Recovery Scheme Pay Back!

The Israeli fund recovery scheme, Pay Back, a/k/a Money Back, has been black-listed by FinTelegram following detailed investigations. Operating for years under various brands, domains, and websites, this scheme has been exploiting the vulnerabilities of scam victims under the guise of offering them a chance to recover their lost funds. The UK FCA issued an updated warning against the scheme, which acts as a clone of an FCA-regulated entity.
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Illegal online casino Atlantis Slots facilitated by Continent PayR
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June 20, 2024

Review: Illegal Online Casino Atlantis Slots Facilitated by Continent Pay!

Atlantis Slots, operated by Pennytech Holding B.V. operates with a non-valid gambling license from Curacao. In our review, we found that Atlantis Slots is engaging in illegal operations within the European Economic Area (EEA). Despite its lack of regulatory permission in these regions, Atlantis Slots continues to offer online casino and gambling services, facilitated by payment processors Continent Pay, Neosurf, Binance Pay, Sofort and CASHlib.
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PayRate42 downgrades Binance to read due to fake review investigation on Trustpilot#
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June 7, 2024

#BinanceWatchDog: Mastercard’s Puzzling Decision to Resume Services with Binance Amid Ongoing Controversies!

In a surprising decision, Mastercard has decided to resume its debit card program with Binance, the world's largest and most embattled crypto exchange, despite numerous ongoing controversies and serious allegations. This move raises significant questions about the card giant’s risk assessment and decision-making processes. Trustpilot suspended the Binance TrustScore due to a fake review investigation. Consequently, PayRate42 downgraded Binance's Risk Rating to Red.
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PayRate42 with Orange Risk and Compliance Rating for TODA PayH
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June 4, 2024

High-Risk Payment Processors: PayRate42 Included Canadian TODAPay in its Orange Risk & Compliance List!

Unfortunately, payment processors often treat their high-risk merchants unfairly or even rip them off. That is why risk and compliance ratings such as those from PayRate42 are very important. PayRate42 recently reviewed TODAPay, a Canadian Money Service Business (MSB), shedding light on the essential details and potential pitfalls for merchants considering their services. TODAPay received an Orange Risk & Compliance Rating.
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FinTelegram included Investview with iGenius in its Black Compliance listB
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May 2, 2024

Black Compliance: The SEC-Registered Investview, its MLM-Scheme iGenius!

Investview, registered in Nevada, is a OTCQB-listed and SEC-registered FinTech and crypto company that distributes its various online trading and crypto products via its MLM structure with changing names and legal entities. Currently, iGenius is the MLM scheme responsible for distribution. On social media, iGenius is called a pyramid or Ponzi scheme. Financial regulators have warned against it. Following our review, we have placed the Investview Group on our black compliance list.
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Investor warning against Kantonal FinanzB
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March 24, 2024

Beware of Pre-IPO Share Scams: Warning Against Kantonal Finanz O!

In the wake of Reddit's successful initial public offering (IPO), there is an anticipated surge in scams promising shares in companies on the verge of their own IPOs. Such scams are not new and have been a method of deceit for years, targeting uninformed investors eager to get in on the ground floor of the next big company. A notable name often mentioned in these fraudulent offers is Elon Musk's Starlink, a company many investors are keenly watching.
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FinTelegram included Zeal Group and ZFX in its red compliance listR
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March 11, 2024

Regulatory Warning Against Red-Listed Offshore Broker Zeal Group and ZFX!

On March 11, 2024, the Spanish regulator CNMV issued a warning against the Chinese-controlled offshore broker ZFX, part of the Zeal Group. The broker is operated via regulated legal entities in the UK and the Seychelles. In our initial review, we were able to register with this offshore broker as an EU resident without any problems. We could theoretically have made unlimited pre-KYC deposits via bank transfer and crypto. This resulted in a Red Compliance Rating.
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FinTelegram included Ultima Markets in its Green Compliance listH
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March 11, 2024

Hong Kong-Controlled Broker Ultima Markets Receives Green Compliance Rating!

The CFD broker Ultima Markets, which is controlled via Hong Kong, operates with licenses from CySEC in Cyprus and the FSC in Mauritius. The broker is still relatively young and only received its CySEC license in Cyprus in 2023. On Trustpilot, Ultima Markets has only 13 reviews with a 4.0-star rating and a corresponding "Great" trust level. In our initial review, we did not find any major compliance violations. We have therefore added Ultima Markets to our Green Compliance List.
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