Illegal Payment Services | FinTelegram News

Category: Illegal Payment Services

July 22, 2021

Illegal broker BTC-Trends promoted by THE NEWS SPY fraud campaign

The offshore broker BTC-Trends, operated by Cordelino Ltd registered in St. Vincent & the Grenadines, does not have a license and is most certainly a scam. The scam is being promoted today via THE NEWS SPY fraud campaign on the SafeInvestmentsNow website. The scam is facilitated by PaynetEasy payment processors for credit and debit card payments. Registration is apparently not currently possible directly through the website. Potential victims have to be referred via one of the fraudulent marketing campaigns that operate as Introducing Brokers.

July 22, 2021

Disgraced Payvision founder Rudolph Booker loses motion for a preliminary injunction

Rudolf Booker was the co-founder and, until 2020, CEO of Payvision, a Dutch FinTech acquired by ING in 2018 at a valuation of €360M. Payvision..

July 18, 2021

Primic – A German car dealer acting as an illegal payment processor for scams

Primic GmbH with the registered office in Berlin was established in September 2020, the German companies register says. Slawomir Cieszynski from Poland is registered as director and beneficial owner. According to its articles of association, the purpose of the company is to trade in motor vehicles. We do not know whether the company earns money with it. However, we know that the company makes money as an illegal payment processor for scams like AvaChoice.

July 16, 2021

Neglecting Eurojust Guidelines – Maltese Authorities refuse to investigate scam-facilitator Paytah

Malta is greylisted for good reasons, mostly for their failing regulators. Malta-licensed, Phoenix Payments Ltd d/b/a Paytah, refuses to assist the many victims who wired money to the company to top their accounts with broker scams like RoyalsFX, LincolnFX, or CodeFX. Victims reported these transactions to the MFSA. The regulator replied that they would not investigate and asked the victims to report Paytah to the Central Bank of Malta, which replied that it would not investigate such complaints. The victims also emailed Kenneth Farrugia, the Director of Malta Financial Intelligence Analysis Unit, who did not reply.

July 9, 2021

BitcoinX fraud campaign chases victims for ProfitsTrade facilitated by Praxis Cashier

Today we found a new, at least for us, fraudulent marketing campaign in which Elon Musk promotes crypto for getting rich quickly. The "BitcoinX - The Elon Musk Effect" presented in a fake Wall Street Journal campaign on the ElectLinks site (https://electlinks.biz/em-effect), which is run by Post Affiliate Pro (www.postaffiliate.pro) by Quality Unit s.r.o. in Bratislava. Today, the campaign promotes the ProfitsTrade scam facilitated by Praxis Cashier.

July 8, 2021

Attention – Illegal broker TradeVtech facilitated by BridgerPay and The News Spy fraud campaign

The News Spy fraud campaign is chasing new victims for many different scams today. Most recently, we have discovered CryptoDock. But the TradeVtech (www.tradevtech.com) scam, which is new to us, is also being promoted via the campaign today. UMedia LLC, registered in St. Vincent and the Grenadines, allegedly operates the scam. Upon registration with The Spy News, we are automatically redirected to the scam's cashier page, where we once again find BridgerPay as the payment processor.

July 8, 2021

Investor Warning – CryptoDock broker scam facilitated by finanic, mercuryo, and Praxis Cashier

Today, one of the dozens of spam emails that deliver scams to our doorstep leads us to The News Spy scam campaign on the Investing Offer website. It promotes game-changing software for online money-making. If you register with the campaign, you are also registered as a victim of the broker scam CryptoDock and directed to the scam's cashier page. There we found Paysecure powered by Praxis Cashier and Estonian finanic as facilitating payment processors.

July 7, 2021

Investor Alert – QuantumCapitals scam still attacking European consumers!

We don't check all incoming emails that promise us quick wealth, but most of them. For example, an email promising us new products will earn us a lot of money easily and quickly. The link takes us through the referral hub www.irmasip.com, a site offering online cooking courses, to the Tesler fraud campaign on the unspeakable website Wapyhdkt (https://wapyhqkt.xyz/tesler-3). We register, and this also automatically registers us as a victim with the broker scam QuantumCapitals (www.quantum-capitals.com) and takes us to its cashier page.

July 7, 2021

Investor Warning – Cryptrader broker scam facilitated by PayWize

Limassol is firmly in the hands of Israeli FinTech entrepreneurs. Without them, CySEC would probably be bankrupt tomorrow, and Cyprus would lose its main source of revenue. This includes the official fees that CIFs have to pay and the penalties that these CIFs have to pay frequently. They flow into the state budget. However, there is fierce competition within the Israeli FinTech community, such as between Ran Cohen and his BridgerPay and Amit Klatchko and his Praxis Cashier. We discovered both along with PayWize as payment facilitators in the Cryptrader scam.

June 28, 2021

Really? Scam victims’ money allegedly financed the campaign of the President of Montenegro!

The Belgrade-based online news portal In4S exposed an explosive political dimension of cybercrime charges around Gal Barak und Uwe Lenhoff. The Belgrade lawyer Marko Vujosevic allegedly stole and laundered €19 million via Global Payment Solutions DOO (GPS) in Montenegro. GPS is at the very center of the cybercrime organization of Barak and Lenhoff. The latter died in prison for unknown reasons. Barak was sentenced to four years in prison for investment fraud and money laundering. And now IN4S claims part of these cybercrime proceeds was used to finance the President of Montenegro.

June 28, 2021

Alert! Crypto Engine fraud campaign promotes Victoria Coins and El Comercio24 broker scams

Today, we find an email from Katiusha Zhukova informing us about the possibilities of making money through Facebook. The email was forwarded to us via Google Slides, where Katiusha commented on a presentation. In the comment, a link, which redirects to a fake article about a Crypto Engine from Facebook presented on https://wphff.naxnah.xyz. Using this Crypto Engine, we are supposed to earn up to $2,900 per day. Via the Crypto Engine website (https://en.cryptoengine.we-trck.com), potential victims finally land at the broker scams Victoria Coins or El Comercio24.

June 17, 2021

Fraudulent Bitcoin Profit campaign promotes Global Markets Association and Status Markets scams

The already well-known Bitcoin Profit fraud campaign is currently hunting for new victims of the broker scams Global Markets Association, operated by BI Level World Ltd, and Status Markets, operated by MarCo Global Projects Ltd. Both companies are registered in the Marshall Islands. As a scam-facilitating payment processor, we once again found PayTechno. The Bitcoin Profit campaign runs on the SmartInvestApp website, among others.