Black Compliance | FinTelegram News

Category: Black Compliance

May 19, 2023

Exposed! The Turkish Broker Scam Network Around CGS Apps, Airsoft, And Crypto-V2!

In recent months, we have noticed an increasing number of schemes on the scam radar operated or facilitated via Turkish companies. Torsa Teknoloji Bilişim Pazarlama ve Ticaret Ltd. Şti. d/b/a CGS Apps in Istanbul operated as an illegal payment processor for broker scams like the vanished ONOTEX. CGS Apps officially sells various products and services related to Forex and CFD trading. Here is our first report on this black-rated Turkish scheme.

May 19, 2023

Attention: Do Not Fall For The EJ Investing Broker Scam Operated By Halobore Ltd!

On the Airsoft white-label platform, the new broker scam EJ Investing is about to be launched. Halebor Ltd, registered in the UK, allegedly operates it. This company has also been operating the LPLFinances, InvestingCiti, and DBInvesting scams. The Bulgarian Kiri Angelov Genov is registered there as a director. Our May 18, 2023 review found that no payment method currently works. These are currently being tested. Stay far away and keep your financial health.

May 16, 2023

Regulatory Warning Against TradeCare365

The Spanish regulator CNMV issued a warning against the broker scheme TradeCare365 on May 16, 2023. This is allegedly operated through Orionda Financials Ltd, registered in Seychelles, and by TradeCare365 Markets Ltd in Mauritius. The website claims that the broker would be regulated by the FSC Mauritius. We have not found the companies. This is likely to be fake. Stay far away and protect your financial health.

April 17, 2023

Urgent Warning Against CTMatador Still Chasing For Victims!

FinTelegram has warned many times against the super-aggressive broker scam CTMatador, but it is still chasing victims. Standard payment options have been disabled for some time now. It seems that CTMatador is preparing to vanish, but victims continue to report their losses. Most recently, many victims may have made crypto deposits to CTMatador and lost them. The boiler rooms behind the scam are still active. If you have lost money, please get in touch with us!

April 12, 2023

Urgent Warning Against ITGSolution Broker Scam!

Spanish regulator CNMV has issued a warning against the broker scam ITGSolution. The operator is allegedly Dev Global LLC, registered in St. Vincent & The Grenadines and incorporated in August 2021. The scam's payment facilitators include PraxisPay for credit and debit cards, as well as BP Wallet and Jeton. The scam has been active since January 2023 and finds victims mostly in Europe and Canada. Stay far away and protect your financial health.

April 4, 2023

Urgent Warning: Crypto Scheme OASIS Assets Downgraded To Black Compliance Rating!

OASIS Assets claims to be a crypto exchange and investment scheme offering investors various plans for guaranteed returns. The scheme does not have a license to offer financial products. We received a report today from one of the owners of the alleged operating companies. Apparently, Oasis Assets is a crypto scam that works with the credentials of companies that have nothing to do with the scam. We have, therefore, downgraded Oasis Assets on black compliance. Stay Far Away.

March 22, 2023

Crypto Investment Scheme OASIS Assets Red Orange Compliance Rating!

OASIS Assets is a crypto exchange and investment scheme offering investors various plans for guaranteed returns. For a 120-day investment of GBP 250,000, 45% is promised. The scheme is operated through legal entities in the UK, Australia, Singapore, and Switzerland. The scheme does not appear to have a license to offer financial products. There is no scam alert on OASIS Assets, but we have given the scheme a Red Compliance rating. Be cautious accordingly.

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.