Black Compliance | FinTelegram News

Category: Black Compliance

November 14, 2023

Urgent Warning Against FinexLeaders Broker Scam Acting As Clone Of FCA-Registered Broker!

The Austrian Financial Market Authority FMA has issued a warning against the broker FinexLeaders. The broker uses the data of FCA-regulated FinEx Capital Management LLP to present itself as a regulated broker. The FCA has already issued a warning in against the scam on 4 Oct 2023. We have discovered Payepo as a payment processor for credit/debit cards. Stay far away. Protect your money and your private data.

November 13, 2023

Urgent Warning Against Assistance-Refund Fund Recovery Scheme!

Today we found another advertisement for Fund Recovery in our Google News stream. This time the scheme is called Assistance-Refund may be connected to the MyChargeBack scheme or abuses their credentials. At least that's what the analysis of the websites and links shows. The Assistance-Refund website does not provide any information about the operators, which is a black flag. Stay far away and protect your financial and mental health.

November 13, 2023

Attention: Another Regulatory Warning Against Broker Scam Tools4Deals!

A few weeks ago, we issued a warning against the black-listed broker scam Tools4Deals. The Dutch regulator AMF has the broker on its warning list. Today, the Spanish regulator CNMV has also issued a warning against the scam. The payment agent for credit/debit cards is Admirra, which is registered in the UK. Stay away, protect your financial health and your data.

November 10, 2023

Urgent Warning Against Broker Scam FXG Markets And Fake Regulator MFA!

The broker scam FXG Markets a/k/a FXG Markets Investment claims to be regulated by the UK-Authority MFA with incorporation number MFA 1822078 and EMA (European Markets Authority) with License Number EMA 02FG12B. These regulators do not exist, thus, this claim is bullshit. The website does not provide any terms and conditions, let alone information about the operators. Stay far away; protect your money and your private data!

November 4, 2023

Attention: Unauthorized Broker Forexelite Received Black Compliance Rating!

First of all, we would like to thank the whistleblowers who drew our attention to the unauthorized and hidden broker Forexelite. If you unfortunately find your way to the domain Forexelite.co, you will be greeted in the Elite Club and will not realize at first that this is a broker. You can only access the website with a VIP code. Thankfully, the whistleblowers have provided us with such a code and we were able to review. As a result, we have placed Forexelite on our black compliance list and issue a warning.

October 31, 2023

Attention: Do Not Fall For the Crypto Trust Service Provider AlgoTrust

Today, the Spanish financial market regulator CNMV issued a warning against AlgoTrust, which provides trust services for the crypto assets of investors who have them on Binance and other crypto exchanges. For its alleged trust services, AlgoTrust wants the API keys of the users and promises them corresponding profits. Please do not give your API keys to third parties, just as you should not give your passwords to third parties. Stay far away.

October 30, 2023

Urgent Warning Against The Vast Billion-Dollar Crypto Ponzi Scheme REAL-TOK!

In the ever-evolving world of cryptocurrency, it's essential to approach investments with caution and diligence. Regrettably, the crypto world is not free from dubious ventures and fraudulent activities. A concerning example of this is the upcoming REAL-TOK crypto token initiative related to real estate. Evidently, it's a Ponzi scheme, spearheaded by individuals like Peter Kilian, Thomas Wagenhofer, and Lukas Koch-Hochmuth.

October 12, 2023

Urgent Warning Against the Trade Tech Broker Scam Facilitated By MoonPay!

The Spanish regulator CNMV has warned against the broker scam Trade Tech. It is allegedly operated by Zermatt Group LLC, registered in St. Vincent & The Grenadines. Potential victims can lose their money via credit/debit card deposit or via crypto. As a payment processor, we have once again discovered MoonPay, via which potential victims buy their cryptos using credit/debit cards. Stay far away and protect your money!

October 6, 2023

Attention: German Watchdog BaFin Warns Against X-Aia Broker Scam!

The German regulator BaFin has issued a warning against the scam broker X-AIA. BaFin says that one of the scam brokers is abusing the identity of BaFin-regulated XAIA Investment GmbH to deceive victims. The website also states Switzerland as the competent jurisdiction. Victims can lose their money via deposits using credit/debit cards and crypto. Stay far away and protect your financial health.

October 6, 2023

Urgent Warning Against the Uptos Broker Scam!

The German regulator BaFin has issued a warning against the scam broker Uptos, stating that it offers financial services without a license. Allegedly, the scam broker is operated through Uptos Ltd, which is registered in St. Vincent & The Grenadines. We have not found this company. The Italian regulator Consob has already blocked the scam broker's website for Italian residents in September 2020. Stay far away and protect your money and your private data.

September 27, 2023

Urgent Warning Against Broker Scam AlphaCapital And Fake Company Nexus LLC!

The Spanish regulator has recently issued a warning against the broker Scam AlphaCapital. It is allegedly operated by Nexus LLC, which is registered in St. Vincent & The Grenadines. This company does not exist in the company register there. Nexus LLC has already operated several other scams, such as Cuarto Capital. In addition, there is apparently also a connection to the Nigerian broker Berfam Markets. Stay far away.

September 19, 2023

Offshore Broker PocketOption Addresses The Russian Market With A Network Of Domains And Websites!

We downgraded Russian-controlled offshore broker PocketOption to our black compliance list a few weeks ago in light of its numerous regulatory warnings. In recent months, PocketOption a/k/a PO Trade a/k/a PO has also addressed the Russian market, which is actually blocked by Western sanctions, through a network of new domains and websites and acquired retail traders. Here is an update on PocketOption.

Compliance Report: Sergey Mendeleev, Garantex, and Exved – The Rising Role of Crypto in Russia’s Sanctions Evasion Strategy

Sergey Mendeleev, a prominent figure in Russia's cryptocurrency scene, has played a central role in the establishment and operation of two key platforms—Garantex and Exved. These platforms have been instrumental in facilitating cross-border payments and crypto transactions, potentially serving as important tools for Russia’s sanctions evasion strategy. Mendeleev's growing influence in this space, coupled with Russia's evolving regulatory framework, positions him as a key player in Russia.

Russia’s New Crypto Strategy for Sanctions Evasion

Russia’s new crypto laws, allowing mining and international payments in digital currencies, are part of a broader strategy to evade Western sanctions and reduce dependence on the U.S. dollar. This move, led by the Central Bank of Russia (CBR), opens up new compliance risks for global financial institutions dealing with Russian entities. The new laws are set to take effect in September for cross-border payments and in November for crypto mining.

Secretive Cyprus Funds Used to Obscure Megayachts and Real Estate Linked to Sanctioned Russian Banker

A recent OCCRP investigation revealed that Cyprus-registered RAIFs were used to hide megayachts and real estate linked to sanctioned Russian banker Andrei Kostin. These secretive funds, managed by Inveqo, allowed clients to avoid disclosing their ownership, raising concerns about the effectiveness of sanctions and regulatory enforcement. The case highlights the challenges of ensuring transparency and preventing financial crime in the global investment landscape.

First-Ever Crypto Seizure in Scotland Under New UK Law

Crypto has undoubtedly become mainstream, particularly in the cybercrime sphere. In a first for Scottish law enforcement, £110,000 in cryptocurrency has been confiscated from John Ross Rennie following a violent robbery. Under new UK rules, police can now seize crypto assets without needing to make an arrest, highlighting a growing focus on tackling digital crime as incidents involving cryptocurrency continue to rise.

Former Lebanon Central Bank Governor Riad Salameh Charged with Financial Crimes

It was a long-expected move. The powerful former Lebanon Central Bank Governor Riad Salameh has been arrested and charged with embezzling $42 million in public funds, part of a broader $110 million fraud case. His detention comes amid ongoing domestic and international investigations into financial misconduct during his controversial three-decade tenure. In 2022, the European Union Agency for Criminal Justice Cooperation (Eurojust) froze assets worth €120 million tied to Salame.