Illegal Payment Services | FinTelegram News

Category: Illegal Payment Services

December 3, 2021

Whistleblower campaign – Law enforcement and lawyers on the search for Vladislav Kogan

Vladislav Kogan was born in March 1973 in Krasnodar, Russia, and later emigrated to Australia. These are the dates in the criminal file. Kogan was the operator of the Czech and scam facilitators payment processor Xtrabit s.r.o. Which, among other things, supported the cybercrime organizations of Gal Barak and Uwe Lenhoff. FinTelegram reported on this, and Kogan sued for defamation and lost. He would have to pay the legal costs, but our lawyers cannot find him. He disappeared! Let us kno

November 30, 2021

Finally! German BaFin investigates licensed Estonian scam facilitator mercuryo

FinTelegram has pointed out several times in recent months that mercuryo (www.mercuryo.io and www.mercuryo.co), a licensed crypto exchange in Estonia, is facilitating payment processor broker scams on a large scale and laundering money stolen from customers for them. We have discovered mercury acting as a payment facilitator for scams GlareMarkets (here), CryptoDock (here), and AMarkets (here). It's about time regulators started looking into mercury.

November 21, 2021

Please notice! Broker scams Tandem Markets and Global Morgan on the hunt!

In our reviews today, we have discovered that currently, via Yuan Pay a/k/a Yuan Pay Group scam campaign, the broker scam Tandem Markets (www.tandemmarkets.com) is being promoted. This scam is operated by the same boiler rooms and marketing companies as Global Morgan (www.globalmorgan.com). Currently, there are no warnings from regulators against either scam. Stay far away and keep your money and data.

November 21, 2021

BaFin follows FinTelegram and investigates vanished RocketChart broker scam

In April 2021, we issued a warning against the RocketChart broker scam that wanted to catch victims via fraudulent marketing campaigns like BitQT. Also, in German-speaking countries. It took a few months before the German regulator BaFin announced an investigation into the scam, which has since disappeared. The investigation probably won't yield much insight, but it may be enough to file a report with the relevant law enforcement agency?

November 16, 2021

The calamities of Lithuanian high-risk payment processor Trustcom!

A Lithuanian law firm representing a Bulgarian and a Portuguese company in disputes with the regulated Lithuanian high-risk payment processor Trustcom Financial UAB, which froze the funds of these companies. This case turned into a criminal investigation conducted by the Lithuanian authorities. They suspect money laundering in the amount of more than €1 million in the context of their clients, they say. Another report by Lithuanian online news site Delfi said the Lithuanian FNTT had fined the company €125,000 for money laundering.

November 12, 2021

Investor warning against Global Trader broker scam facilitated by PayPound and Dream Finance

TODAY, the UK FCA issued a warning against the Global Trader broker scam. The scam's website claims that its offices are in Canary Wharf in London. Of course, this is not true. Information about the operating legal entity or the responsible jurisdiction is searched in vain. Payment processors we have are PayPound for credit and debit card payments and Dream Finance OÜ d/b/a Cryptoprocessing.

November 11, 2021

Don’t be stupid! Do not fall for the EU Crypto Bank broker scam!

There seems to be no end to the constant stream of new scams and investment or trading fraud. We have information from victims of the EU Crypto Bank scam that rips off victims with large sums of money. It is a typical online trading scam. We have discovered CardPayz as the payment processor. The scam is likely to be operated via Cypriot boiler rooms, as Cypriot phone numbers are provided for contact. In July 2021, the scam attracted attention via a press release. Again, it did not name any individuals, companies, or details. Stay far away!

November 10, 2021

Attention! TradeVtech broker scam facilitated by BridgerPay still hunting victims!

TradeVtech is an old scam acquaintance. FinTelegram issued an investor warning against the scam in early July 2021. At the time, the scam was operated by UMedia LLC a/k/a UM Media LLC in St. Vincent and the Grenadines; we uncovered BridgerPay as the scam-facilitating payment processer. In July 2021, the UK FCA issued a warning against TradeVtech; the Austrian FMA followed in August as did New Zealand FMA in October.

November 9, 2021

German BaFin orders three illegal payment processors to terminate their business!

The German regulator BaFin is not known for being particularly active or aggressive against illegal financial service providers or scammers. Unfortunately, that is what has made Germany a center for money laundering via illegal payment processors in recent years. On November 8, 2021, BaFin ordered the cessation and liquidation of the illegal payment processing activities of AliDa Consulting GmbH, El-Do-Buy Marketing GmbH, and Curpat GmbH.

November 9, 2021

Attention! Czech payment processor Unicornex Group is no longer authorized!

Recently, Czech National Bank (CNB) warned the public that Unicornex Group s.r.o., registered with company number 065 04 698, operating with the domain www.inter-pay.cz is no longer authorized to provide payment services since February 2021. However, the Payment Processor website still claims that a license is available. CNB points out that the funds entrusted to Unicornex Group are not protected under the Payment System Act.

November 6, 2021

Whistleblower Call – Let’s find the people behind vanished scam HybridReserve

The HybridReserve broker scam vanished sometime in 2020. It has defrauded thousands of victims during its active period between 2018 and 2020. Several financial market regulators in Australia and Europe have issued warnings against the scam. The vanished website was owned and operated by the offshore entity SingleBell LTD, Saint Vincent & the Grenadines, and the unlicensed Estonian SingleBell OÜ, One of the facilitating payment processors has been the German P2P GmbH, which is investigated by German law enforcement agencies.

November 4, 2021

Attention! Stay away from BenefFX and Gloffix broker scams!

The fraudulent Bitcoin Up marketing campaign today promotes the BenefFX broker scam. After registering with Bitcoin Up, prospective victims are redirected to BenefFX's cashier page. There, victims can lose their money via credit and debit cards as well as PayRetailers and AcePay. The scam is allegedly operated by the offshore entity Optium Ltd, registered in the Marshall Islands. Key Solutions Ltd in Bulgaria is stated as the payment processor. BenefFX attacks victims in English, German, Chinese, Spanish, Italian, and Arabic.