Illegal Payment Services – FinTelegram News

Category: Illegal Payment Services

August 3, 2020

UK Watchdog FCA warns against Praxis Cashier client Profits Trade

The UK Watchdog Financial Conduct Authority (FCA) has issued an investor warning against the Praxis Cashier scam client Profits Trade (www.profitstrade.com). According to information on the scam's website, it is operated by the company ProfitsTrade Ltd in Dominica. The Praxis Cashier is facilitating this broker scam, with Klarna and LeaderPay also being offered as payment options.

August 3, 2020

Investor Warning against Praxis Cashier scam clients FX Leader and SwisCapital

The German regulator BaFin has issued a cease and desist order against the Praxis Cashier scam clients FX Leader which is connected to the SwisCapital broker scam. The FX Leader domain has linked to the SwisCapital CFD broker platform allegedly operated by a ScissCapital Limited, a company allegedly registered in St. Vincent and the Grenadines.

August 3, 2020

BaFin issues another Cease and Desist Order to illegal payment processor TrustSecure

The unauthorized and thus illegally operating German payment processor TrustSecure GmbH has been operating since 2017. Initially, the company was founded at the end of 2017 as SCRI-Alpha 961 GmbH as an asset management company. Already in January 2018, the company was renamed to Trustsecure GmbH and Serghei Grodetchi with official residence in Düsseldorf was appointed as managing director. The BaFin issued another cease-and-desist order to TrustSecure in the context of the broker scams FDM Trade Online and TradesPrime.

August 2, 2020

Fight Cybercrime – Open EFRI Letter to FATF on the German problem

Currently, the Wirecard tsunami sweeps over Germany and destroys the reputation of the capital market and its institutions. The responsible authorities, auditors, and politicans are sort of playing the "Trip to Jerusalem" or "Musical chair" and deny any guilt in causing this drama. The frightening truth is that Germany has a systemic problem with cybercrime and money laundering. The consequence of this truth is that Germany must review the state of its authorities and its approach to cybercrime. And FATF should have a very close watch!

July 30, 2020

Gooood Morning BaFin – it’s time to start protecting, supervising, and cybercrime fighting!

It's stunning. Before the eyes of the world public, the scandal of the DAX listed Wirecard unfolded over years while the BaFin did nothing but file complaints against investigative journalists and traders. BaFin has the legal mandate to protect the capital market and investors. Despite numerous warnings and circumstantial evidence, it has not fulfilled this mandate. BaFin must be accused of gross negligence and embezzlement.

July 28, 2020

Vienna Cybercrime Trials – Defendant Barak confirms involvement of his wife and Payvision role

The second day of the Vienna Cybercrime Trials against Gal Barak, the alleged Israeli principal of an international cybercrime organization and operator of numerous broker scams, brought remarkable findings. The prosecutors confronted Barak with payment transactions of the various companies of Barak's cybercrime organization. At the center of these transactions was the notorious GPay Ltd. And, oh yes! Barak was not the boss, he said. He just liked the offices in Sofia.

July 28, 2020

CySEC regulated Maxigrid accused of fraud; silently closes down BitandBuy crypto service

It's about the RoyalsFX broker scam. One of the scam's damaged investors involved FinTelegram and started an email communication with FinTelegram on cc. The desperate investor started to claim his money back and provided all sorts of evidence and supporting documentation. This scam involved the crypto platform BitandBuy, a brand and platform of CySEC-regulated Maxigrid Ltd. This crypto venture disappeared amidst the victims fraud allegations.

July 23, 2020

Wirecard was run by a criminal organization – what about Payvision and ING?

Surprise, Surprise! The Wirecard madhouse was run by a criminal organization, says the German public prosecutor on July 23, 2020. he public prosecutor's office has allegedly been able to confirm and support these statements with facts. Consequently, the former managers Markus Braun, Burkhard Ley, and the former head of accounting were arrested. The former COO, the Austrian Jan Marsalek remains on the run. But Wirecard is not the only payment processor with close connection to cybercrime and money-laundering.

July 22, 2020

Wirecard – Braun and 3 others arrested; Phony merchants, a porn baron, marijuana, and transaction laundering

In March 2020, the German payment expert Ruben Weigand and the so-called "porn baron" Hamid “Ray” Akhavan have been arrested in California on charges of running a global money-laundering scheme. The center of this scheme is one of the largest on-demand marijuana marketplaces in the US, Eaze Technologies Inc. Both pleaded not guilty but remained in custody at a jail in California. Both have already been involved in the mega-money-laundering scheme of FBME Bank. And yes, there is a rather close connection to Wirecard. Consequently, Markus Braun war arrested again today.

July 20, 2020

The B2G Legacy – The German ‘Zusammen Wohnen Zusammen Leben’ Venture

Founded in 2016 in Cologne, Germany, by German Rainer Treuer (LinkedIn profile) and his Russian partner Oleg Shvartsman (LinkedIn profile), B2G GmbH was one of the leading illegal payment processors until it was uncovered by law enforcement. According to the findings of the investigating EU authorities in various countries, B2G may have facilitated hundreds of cybercrime & scam ventures. Shvartsman and Treuer are also engaged in the real-estate sector.

July 14, 2020

CryptoDaily – The crypto media outlet and exchange laundered money for cybercrime organization

The world of the scammer is a global and well-connected ecosphere. And so is the world of illegal payment processors. There are thousands of unauthorized and illegal payment processors worldwide. These illegal payment processors are mainly used for the processing of bank transfers from victims of scams. These illegal payment processors include the crypto news platform CryptoDaily and its organization. Read the incredible story.

July 12, 2020

Russian Secret Service and German Payment Processors

It seems that the German fintech and payment processor scene is run by secret agents and spies. Especially such agents who are said to have a close relationship to the Russian secret services. In this secret service-driven German fintech scene, it comes as no surprise that the topic of illegal payment services and money laundering seems to be its driving forces. Russia's secret services seem to maintain good relationships with the German fintech and payment processor ecosystem.