Money Laundering – Page 3 – FinTelegram News

Category: Money Laundering

June 25, 2020

German Prosecutors confirm probe into illegal payment processor B2G

The office of the responsible German public prosecutor's office has confirmed the investigations against B2G and the acting persons Rainer Treuer and Oleg Shvartsman. The company and the people are suspected to have facilitated scams and cybercrime ventures as an illegal payment processor.

June 25, 2020

Former Wirecard Markus Braun released on bail and caught by a margin call

The detainment of former Wirecard CEO Markus Braun was a rather short stint. His former colleague on the Board of Management and long-time companion Jan Marsalek was not even within reach of the law enforcement agents because he was allegedly in the Philippines, i.e. he is on the run. But back to Braun.

June 23, 2020

Illegal German payment processor B2G in the crosshairs of international justice

The illegal German payment processor B2G GmbH with the two managing directors, the Germain Rainer Treuer and his Russian partner Oleg Shvartsman, is in the focus of the investigations of Law Enforcement in several jurisdictions within and outside the EU. This is no surprise, as B2G as a payment processor has facilitated the worst broker scams such as Option888 or Blue Trading.

May 14, 2020

The EFRI Mission – Involving Regulators and Prosecutors to Recover Funds for Defrauded Investors

The European Funds Recovery Initiative (EFRI), co-founded by FinTelegram, is specialized in the recovery of funds of investors who have been defrauded by investment scams. Furthermore, EFRI sees itself as an advocate for investors and investor protection. Currently, EFRI has been granted a Power of Attorney by more than 800 victims which have been defrauded of more than EUR 34 million. The approach applied by EFRI differs in several aspects from the activities of lawyers and other organizations in the recovery business. Also because EFRI is organized as an initiative and association of victims.

May 5, 2020

Wirecard drama continues – what about the pink elephant called money-laundering for big illegal organizations?

With the KPMG special audit report on the table Wirecard still pretends to believe that the accusations of balance sheet manipulation, irregularities in accounting, kick-back payments, and lack of transparency raised from many sides have been refuted or at least not been confirmed. The accusations of money-laundering in the context of client relationships with cybercrime organizations and scam operators are not dealt with at all. Admittedly, the scope of the special audit of KPMG did not include this pink elephant in the room.

May 2, 2020

Dutch Magazin ‘Follow The Money’ uncovers background information on latest Payvision movements

The investigative Dutch magazine Follow the Money (“FTM”) yesterday published a detailed article on the resignation of the three founders and directors of Payvision. Rudolf..

March 9, 2020

Breaking News – Moorwand Director Robert Courtneidge resigns!

Normally, the resignation of a director is not “breaking news”. In the case of Robert Courtneidge, however, it is. Just a few weeks ago Courtneidge..

March 3, 2020

EFRI filed money-laundering complaint against illegal payment processor B2G

Cybercrime in general and broker scams, in particular, would not be possible without the involvement of facilitating payment processors. Unfortunately, the FinTech hype of the..

March 2, 2020

Alleged Russian money-laundering scheme loses millions in bankruptcy of Austrian Meinl Bank

Early 2019, the Austrian Meinl Bank filed a money laundering report to the competent authorities on the basis of the reports of FinTelegram. The object of the suspicious activities report (SAR) was Keyring Holdings Ltd of the Russian Vladislav “Vlad” Smirnov (aka Vladislav Khokholkov). With the bank's insolvency the money is most likely gone.

March 2, 2020

Austrian Anglo Austrian (Meinl Bank) files for bankruptcy; Russian money-laundering scheme loses millions!

On 31 January 2019, the Austrian Meinl Bank (renamed into Anglo Austrian AAB Bank) reported one of its clients to the competent authorities on the..

February 28, 2020

Exposed – ING subsidiary Payvision processed €130 million illicit proceeds for now-detained broker scammers Lenhoff & Barak and did so while reporting suspicious activities!

The extent of the damage caused by scam facilitating FinTechs is very clearly shown by the ING subsidiary Payvision. The Dutch Fintech processes some €130 million just for the scams of the two now-imprisoned Uwe Lenhoff (Germany) and Gal Barak (Israel). Thanks to the investigations many sad hypothesis around FinTechs and their role as cybercrime facilitators have been proved by facts and evidence.

February 27, 2020

Good News – UK Regulator FCA finally acts against Robert Courtneidge and ePayments Systems!

On February 11, the FCA-licensed e-money institution ePayments System has been ordered by the FCA to suspend all activity for “an indefinite period.” The regulator found “a number of weaknesses” in its anti-money-laundering (AML) controls. ePayments Systems is one of the big e-money institutions in the UK with over a million private accounts and more than 1,000 business accounts. Allegedly, the company has issued more than 75,000 prepaid cards as a principal issuer of Mastercard. It booked profits of more than £18m on revenues of almost £28m in the year up to the end of April 2019, with a whopping 66% gross profit margin according to Alphaville. Its director Robert Courtneidge resigned on February 17, 2020.