Red Compliance | FinTelegram News

Category: Red Compliance

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.

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.

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.

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.

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.

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.

March 6, 2024

Concerns Rise Over MEXC’s Unlicensed Operations in Multiple Countries

MEXC, a crypto exchange, is under scrutiny for offering services without proper licenses in various jurisdictions, including Canada and Australia, where market authorities have issued warnings against the platform's illegal operations. The U.S. has also restricted MEXC's activities, with the Financial Crimes Enforcement Network (FinCEN) denying permission due to compliance failures. Yet, insider reports suggest that MEXC continues to operate in the US market despite these bans.

February 25, 2024

Urgent Warning: Offshore Broker PocketOption Deceives with Fake Reviews On Trustpilot!

PocketOption is an offshore broker that has secured a spot on FinTelegram's Red Compliance List due to its dubious operations. Allegedly, PocketOption is managed by Infiniti Trade LLC, a firm with registration in Costa Rica. Similarly, PO Trade, closely linked with PocketOption, is run by PO Trad Ltd, which is based in St. Lucia. Trustpilot informs that it found fake reviews of PocketOption and deleted them. Stay far away.

February 10, 2024

Cypurs-Connected Offshore Broker QuoMarkets Secures Red Compliance Listing!

In our review of the QuoMarkets offshore brokerage operation, we’ve uncovered that it is registered as a securities dealer with the Financial Services Authority (FSA)..

February 2, 2024

Crypto Exchange MEXC: Secures Scam Level Rating On TrustPilot; Issues Crypto Debit Card With Paytend!

FinTelegram has already issued several warnings against the crypto exchange MEXC. The points we criticized have still not been resolved. The website does not provide any information on the operators or regulations. These are essential details whose absence automatically results in a red flag. We found the Lithuanian EMI Paytend to be the payment processor for bank transfers. On Trustpilot, MEXC secured a 1.9-star rating with a poor trust level. Here is our update.

February 2, 2024

Urgent Warning to Binance Users: Account Restrictions and Legal Hurdles Results in Red Compliance Listing!

FinTelegram urges caution for users of Binance, the crypto exchange that operates in the UK through the Seychelles-based Nest Services Limited. Our analysis of Binance's terms and conditions reveals significant powers vested in the company to modify, suspend, or terminate user accounts and access to services with little to no explanation required. This advisory seeks to highlight key concerns and potential legal challenges users may face. We have Red-listed Binance.

January 31, 2024

Urgent Warning and Call for Action: Binance Under Regulatory Scrutiny is Freezing Accounts!

Binance has faced regulatory challenges for several years. Notably, in 2022, the UK's Financial Conduct Authority (FCA) expressed concerns about its inability to oversee Binance's operations effectively. The situation escalated in November 2023 when Binance and its CEO, Changpeng Zhao (CZ), admitted to breaching U.S. financial laws and engaging in money laundering activities. This admission led to a hefty settlement of $4.3 billion, with CZ's sentencing scheduled for February 2024.

Peter Brabeck-Letmathe: The Water Baron Takes the WEF Throne—What’s Next for Global Elites?

Peter Brabeck-Letmathe, the 80-year-old Austrian corporate titan, has stepped into the spotlight as the interim chairman of the World Economic Forum (WEF) following Klaus Schwab’s abrupt resignation on April 20, 2025. Known for his ruthless business acumen and controversial stances, Brabeck-Letmathe is no stranger to power—but his ascension to the WEF’s helm amid swirling allegations against Schwab raises explosive questions.

THE GODFATHER OF DAVOS FALLS: KLAUS SCHWAB RESIGNS AMID EMERGING EMBEZZLEMENT SCANDAL

In a seismic blow to the global elite, Klaus Schwab, the 87-year-old mastermind behind the World Economic Forum (WEF), abruptly resigned as chairman on Easter Sunday, April 20, 2025, only to be engulfed by a firestorm of allegations accusing him of embezzling WEF funds and fostering a toxic empire of elitism..

From Vienna With Scandal: The Case of Dutch Investor Adnan “Danny” Khan and Austria’s Toxic Nexus of Politics and Fraud!

From billionaire fraudster René Benko to luxury car collector and alleged fraudster Adnan “Danny” Khan, Vienna has become a stage for financial theatre of the absurd—backed by politicians, delayed by prosecutors, and often ignored until it’s too late. These aren’t just local scandals—they’re systemic failures with implications for financial stability across the EU. And behind them all, Austrian justice plays a curiously selective role.

The Unraveling of Rabidi and the Rise of the SoftSwiss Network: Our Updated Forensic Report

A few months ago, FinTelegram released a first forensic report on the bankruptcy of Rabidi N.V., a Curacao-registered online casino operator with hundreds of millions in revenues — and no traceable assets by the time of its collapse in May 2024. That report already raised serious questions about the opaque structures behind Rabidi’s operations and its successor, Liernin Enterprises Ltd.

DeFi Decoded: Smart Contracts – The Code Behind the DeFi Revolution

Smart contracts are the invisible architects of decentralized finance. These self-executing lines of code run everything from token swaps to lending platforms without middlemen. But while they offer autonomy, they also introduce new risks—bugs, exploits, and irreversible mistakes. In this fourth installment of our FinTelegram DeFi Series, we explain what smart contracts are.