EFRI | FinTelegram News

Category: EFRI

January 21, 2021

Wanted for funds – Maltese payment processor Paytah in legal troubles

Paytah is operated by Phoenix Payments Ltd, a company registered in Malta and regulated by MFSA. As reported by FinTelegram, PayTah has facilitated vast broker scams, including LincolnFX, RoyalsFX, CodexFX between 2019 and 2020. Victims of these scams have provided the European Fund Recovery Initiative (EFRI) with the Power of Attorney to recover their funds. Via its Maltese lawyer EFRI has taken actions to recover the victims' funds from Paytah. Currently, the Maltese connection is chasing after the Paytah people.

January 17, 2021

Payvision and Vienna Cybercrime Trials – Let’s scam the scammers and the EFRI Campaign

Oh yes, the alleged German cybercrime mastermind Uwe Lenhoff was a very good acquaintance of Payvision founder and CEO Rudolf Booker. They spent skiing vacations together in Austria and communicated a lot. Thanks to the frequent and very open communication between Lenhoff and Booker, their business details can be found in the criminal files. They show how high-risk payment processors work.

January 12, 2021

Scam-facilitating Maltese payment processor PayTah refused to recognize its legal responsibility

Recently, we reported that the high-risk payment processor Phoenix Payments Ltd d/b/a Paytah (www.paytah.com), like Maxigrid in Cyprus, has been helping large broker scams like RoyalsFX, LincolnFX, or CodeFX to defraud consumers and retail investors with their payment services. Paytah is to be held liable for this but has so far refused to accept its responsibility for intentionally or grossly negligently supporting the scams and refuses to provide any assistance to the victims.

EFRI

November 18, 2020

Victims Alert – EFRI Fake scammers aggressively attack scam victims

FinTelegram is the co-founder of EFRI which is currently working closely with law enforcement in various jurisdictions to obtain restitution payments for the victims it represents. In recent weeks, however, victims have been attacked via e-mails and phone calls from alleged EFRI employees. They are offering scam victims to recover their funds on a fee basis. Victims receive fake EFRI invoices and are asked to pay for their purported services via Bitcoin (BTC).

November 11, 2020

FinTech Payvision – Is it really the Dutch Wirecard mini-me?

EFRI was founded in 2018 by FinTelegram together with auditors, lawyers, and victims of scams. The NGO initiated a mass movement with more than 1,000 registered victims and members. EFRI represents the interests of victims towards scammers and their facilitators. The Dutch FinTech Payvision was one of them. EFRI even goes so far as to call Payvision the Wirecard of the Netherlands.

November 1, 2020

Payvision and the EFRI fight for victims’ money!

Without the collaboration of payment processors, scam operations and online fraud schemes would be very difficult if not impossible. Currently, EFRI, co-founded by FinTelegram, is fighting with the Dutch FinTech Payvision for restitution payments to the victims of scams of Uwe Lenhoff and Gal Barak who has been found guilty of investment fraud and money-laundering in the Vienna Cybercrime Trials ("#VCT").

October 19, 2020

EFRI charges Payvision with scam facilitation claiming restitution payments

The European Funds Recovery Initiative (EFRI) has sent a letter of formal notice to the ING subsidiary Payvision and asked for restitution payments for the victims of scams of the German Uwe Lenhoff, who died in prison while waiting for his indictment. Ther German prosecutors charged Lenhoff with operating a cybercrime organization, investment fraud, and money laundering. Lenhoff was a close business partner of Payvision and an acquaintance of its founder and then CEO Rudolf Booker.

October 9, 2020

Maxigrid Case – Open Letter to CySEC chairwoman and Europol

FinTelegram and EFRI have sent an open letter concerning Maxigrid and the related broker scams like RoyalsFX or LincolnFX (to name only two) to Demetra Kalogerou, chairwoman of CySEC, and Europol. The claim of The Financial Ombudsman Service of the Republic of Cyprus that CySEC would not be responsible for the crypto activities of the investment firms they regulate is wrong in our view. In addition, Maxigrid also handled bank deposits for scams hance was involved in fraudulent FIAT transactions too.

September 24, 2020

Vienna Cybercrime Trials – Passionate law enforcement teams meet whistleblowers and EFRI

The Vienna Cybercrime Trials ("#VCT") have been an important step in the fight against scammers, cybercrime, and money laundering. The #VCT findings have also facilitated investigations and prosecutions in other jurisdictions and other scam cases. The first arrests in connection with the #VCT were made by EU arrest warrants issued by Austrian authorities. Thanks to the help of whistleblowers and FinTelegram. Now, leading EU investigative media like SZ report about the "Fall of the Wolf."

August 4, 2020

Open Letter to AnyDesk – Producer of terribly efficient cybercrime tools

Germany is something of a strategic base for international cybercrime and money laundering. It has been known not only since the collapse of the former FinTech star Wirecard that Germany makes considerable contributions to the prosperity of the international cybercrime and scammer scene. Dozens of illegal German payment processors like B2G, TrustSecure, or StronIT are facilitating scams in plain sight of law enforcement. The German software company AnyDesk Software GmbH provides a highly efficient remote access software to empower fraudulent boiler room agents.

August 4, 2020

Open Letter to AnyDesk – Producer of terribly efficient cybercrime tools

August 3, 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!