EMI | FinTelegram News

Category: EMI

September 7, 2021

Introducing crypto payment processor Global DLT Exchange with Jubiter and Coindeck

Coindeck is a new high-risk crypto payment processor brand operated by Slovakia-based Global DLT Exchange S.R.O., which also operates Jubiter. The latter was the trade name of Estonian Jubiter Technologies OÜ, which was licensed until February 2021. After many scam involvements, the company lost or renounced its license. Jubiter was transferred to Global DLT Exchange S.R.O. but continued to surface as a scam facilitator. Frequently together with BridgerPay. Most recently, we also found both in the GoldBachInvest scam.

August 6, 2021

Interesting! Nasdaq-listed GreenBox POS acquires notorious Bulgarian Transact Europe

GreenBox POS is a California-based FinTech company specializing in payment solutions on the blockchain. The company has been listed on Nasdaq with the symbol GBOX since February 2021 and currently has a market capitalization of around $450M. Transact Europe is a Bulgarian financial institution with an intense past in the largely fraudulent binary options industry. Transact Europe was one of the facilitating payment processors of Gal Barak and his Bulgarian E&G Bulgaria. GreenBox POS is to acquire Transact Europe for $30M in cash.

July 2, 2021

Notorious scam-facilitator Deutsche Handelsbank about to close down payment business

The notoriously well-known Deutsche Handelsbank has been in the FinTelegram focus over the last three years. Like ING's Dutch subsidiary Payvision and, until its collapse, Wirecard, the bank was a prime address for scammers and cybercrime organizations. Uwe Lenhoff, who died in prison in 2020, was one of the clients of Deutsche Handelsbank and used the bank to launder the illicit proceeds of his huge lotto scam LottoPalace. Now the German financial institution seems to be about to its dirty payment division.

June 26, 2021

Lithuanian compliance issue or why GlobalNetInt is grateful for its penalization

A penalty is usually not an occasion for gratitude. That would also make the purpose of a punishment absurd. Usually, one is grateful for a received punishment only if one is aware that one has gotten away well with this punishment and should actually have been punished much worse. A driver who is speeding while massively impaired by alcohol or other drugs certainly grateful is grateful if he is punished by the police only for speeding and not for the offense of driving under the influence (DUI). Similarly, GlobalNetInt (GNI) shows itself grateful for the penalization by the Bank of Lithuania.

June 23, 2021

Lithuanian Compliance Issue – Findiban website switched into maintenance mode

The Lithuanian Liudvikas Kulikauskas is the co-founder, CEO, and shareholder of GlobalNetInt (GNI), an e-Money Institution regulated by the Bank of Lithuania. Additionally, he and his wife Egle Kulikauskiene launched the payment processor Ifind MB d/b/a Findiban, which was apparently positioned as a high-risk payment processor, offering businesses a range of financial services, including SEPA IBAN account, white-label FinTech services, or credit card processing. Currently, the Findiban website is in maintenance mode and hence down.

June 18, 2021

SG Veteris and its crypto payment brands Koinal and Bitpace

Koinal (www.koinal.io) and Bitpace (www.bitpace.com) are two trading styles of SG Veteris Limited, a company that used to be registered with the Uk Financial Conduct Authority (FCA) as an agent until October 2020. After that, it was temporarily registered as a crypto asset business with the FCA but no longer is. While Koinal offers crypto exchange and payment services, including payments with credit and debit cards, Bitpace is focused on merchants offering them a crypto payment gateway to accept crypto payments from their clients.

June 8, 2021

Bravo! Bank of Lithuania revokes license of Finolita Unio

As reported by FinTelegram, The Financial Times reported that German prosecutors suspect that more than €100M was stolen from Wirecard via the licensed Lithuanian e-Money Institution (EMI) Finolita Unio. Via this fintech, at least €35M was said to have flowed to fugitive ex-Wirecard executive Jan Marsalek and another €65M to the now insolvent company oCap in Singapore. Today, the Bank of Lithuania announced that the license of Finolita Unio had been revoked for violations of money laundering rules.

May 21, 2021

Interesting German-Lithuanian Compliance Dispute about Wirecard and fintech regulation

The spot is on Lithuania! The Financial Times reported that German prosecutors suspect that more than €100M was stolen from Wirecard via the licensed Lithuanian Finolita Unio. Via this fintech, at least €35M was said to have flowed to fugitive ex-Wirecard executive Jan Marsalek and another €65M to the now insolvent company oCap (previously Senjo Trading) in Singapore. Both Finolita Unio and oCap are part of the Senjo Group, one of Wirecard's most important partners in Asia, and received a loan of €350M from the latter. Finolita Unio CEO Danas Oliskevicius rejects the accusations and blames the German BaFin.

May 6, 2021

GlobalNetInt CEO launched new financial services venture Findiban

Liudvikas Kulikauskas, founder, CEO, and shareholder of GlobalNetInt UAB (GNI), an e-Money Institution (EMI) regulated by the Bank of Lithuania with authorization code LB000434, has founded a payment processor Ifind MB d/b/a Findiban (www.findiban.com), together with his wife, Egle Kulikauskiene. The company is apparently positioned as a high-risk payment processor, offering businesses a range of financial services, including SEPA IBAN account, white-label FinTech services, or credit card processing.

April 29, 2021

Polish-Lithuanian Epayblock again exposed as a scam-facilitating payment processor

Time and again! Recently, brought a Request 4 Information (R4I) regarding the regulated Lithuanian e-Money Institution Epayblock. This payment processor has been exposed as a partner of illegal payment processors such as Skylas, Merelita, Ristema, or BDIKA, which are involved in broker scams. These companies launder money through their bank accounts at Epayblock. Today, we discovered the Hungarian Dot Systems KFT, another illegal payment processor being a client of Epayblock.

March 28, 2021

Regulated Lithuanian scam-facilitator Epayblock lost two top managers

We brought a Request 4 Information (R4I) regarding Epayblock a few days ago because we want to know more about the e-Money institution regulated by the Bank of Lithuania with authorization code LB001911. The reason for this R4I was that illegal Lithuanian payment providers such as Skylas, Merelita, or Ristema are involved in currently active broker scams. These companies launder money through their bank accounts at Epayblock. Upon our R4I, we received the information that two top managers had already left the company several months ago.

March 26, 2021

R4I – Epayblock, illegal payment processor clients, and money-laundering

Amid the hype of binary options, CFDs, and crypto trading, many FinTech entrepreneurs have picked up e-Money Institution licenses in Lithuania. Like Eyal Nachum with his Bruc Bond and International Fintech. Well, they lost the license and went to Singapore. However, MoneyNetint Group and its GlobalNetInt are still there; regulated! Most recently, Epayblock caught our attention because it is repeatedly involved in broker scams as a payment processor. We would like to know more about Epayblock.