EMI | FinTelegram News

Category: EMI

November 14, 2022

Payabl-Investment KlarPay Announced USD AND GBP Accounts

Payabl Group-funded Swiss-Cypriot FinTech Klarpay, focused on online merchants and influences, has announced the launch of USD and GBP accounts. This addition enables its clients to send and receive USD and GBP payments globally via their corporate Klarpay account. With Klarpay’s Swiss IBAN accounts, businesses can transact through SEPA and SWIFT in more than 90 countries and 70+ currencies via its Dashboard and APIs.

August 2, 2022

Update On The FCA-Regulated Latvian PaysTree And Its Network!

In May 2022, FinTelegram published the initial report on the FCA-regulated e-Money Institution PaysTree and its network of companies and individuals. PaysTree and the network are controlled by Latvian citizens. One of the FCA-registered agents of PaysTree is the Hawex Group, which is allegedly controlled by iPayTotal founder Ruchi Rathor and her team. According to the UK Companies House PaysTree is controlled by the Swiss citizen Anselm Oskar Schmucki. Here is another update.

July 24, 2022

Update On The High-Risk Payment Processor Group ECommPay!

Earlier this year, FinTelegram brought reports on the payment processor ECommPay, controlled by the Russian Alexander Spiridonov and his Latvian comrade Aleksejs Sjarki via legal entities in Cyprus, the UK, Latvia, and the Cayman Islands. ECommBX Ltd, regulated by the Central Bank of Cyprus as an EMI, and the FCA-authorized payment institution ECommPay Limited are part of the ECommPay group. Russia is still the most important market, the latest SimilarWeb data suggest. However, some related companies in Russia vanished over the last 12 months.

June 24, 2022

Whistleblower Request– Transactworld Group meets GlobalNetint!

In May 2019 FinTelegram uncovered that the Indian payment processor Paymentz facilitated the huge Zoo Broker Scam Network. Paymentz is a part of the Transactworld Group of the Indian brothers Anupam Vassa and Amoolya Vassa. This group operates with several legal entities across different jurisdictions The UK entity Transactworld Limited is an FCA-authorized E-Money Institution, and the Cyprus-based Transactworld Limited is an agent of GlobalNetint UAB d/b/a payswix, an EMI regulated by the Bank of Lithuania. We would like to learn more about this network.

June 23, 2022

Regulated Lithuanian FinTech Sector Continues To Grow In 2022!

The Electronic money institution (EMI) and payment institution (PI) sector in Lithuania continued to grow in the first quarter of 2022, the Bank of Lithuania informed. Income from licensed activities of EMIs and PIs, which form the backbone of the licensed Lithuanian FinTech sector, increased 1.8 times in Q1 2022, compared to Q1 2021, to just over €170 million. The volume of payment transactions grew strongly in the first quarter of the year to €173.6 billion and was double the level of a year ago.

June 20, 2022

FCA-Regulated German PPRO Appoints New Chief Financial Officer

The FCA-regulated e-Money Institution PPRO Financial is controlled by the German PPRO Holding GmbH and has affiliated companies in Europe, Asia, North and South America. The company was co-founded by Tobias Schreyer. In January 2021, the company announced a $180 million in funding at a valuation of more than $1 billion. Recently, the company appointed former Wayfair Europe finance executive Rahul Raswant as its new Chief Financial Officer (CFO). He takes over from Goetz Moeller, who will be stepping down after over 3 years at the firm.

June 6, 2022

FCA-Regulated Pixxles Appointed Salma Kamaly As Director!

The FCA-regulated high-risk payment processor Pixxles is allegedly the successor to the US-based T1 Payments group. The former T1 Payments manager and partner of its founder Donald Kasdon, Amber Fairchild, established the company in October 2018 and is its beneficial owner. Pixxles appointed Salma Kamaly as an additional director a few days ago, PayCom42 reported. Kamaly is purportedly a compliance expert who also serves as the sole director of JS Compliance Consultants Limited (JSCC).

May 16, 2022

Statement Of Verified Payments To Our Report About Regulatory Audit!

On 5 May 2022, FinTelegram reported a regulatory audit of Verified Payments UAB d/b/a Verifo (www.verifo.com). The entity is regulated by the Bank of Lithuania, which scheduled an audit from May 6 to June 23, 2022, to assess the institution’s compliance with applicable anti-money laundering and terrorist financing requirements. FinTelegram has received a copy of the regulator's letter and additional insider information. Verifo sent a compliant to FinTelegram, which we publish in part below as a courtesy:

EMI
ticker

May 11, 2022

The vanished websites of ECommPay high-risk payment processor!

ECommPay is a high-risk payment processor focused on the gaming and forex industries. The Russian Alexander Spiridonov and his Latvian comrade Aleksejs Sjarki control the ECommPay group via legal entities in Cyprus, the UK, Latvia, and the Cayman Islands. In Russia, the company is represented by KPR LLC. iECommBX, regulated by the Central Bank of Cyprus as an EMI, and the FCA-authorized payment institution ECommPay Limited are part of the ECommPay group. Some of their websites vanished since our last report. Here is an update.

May 5, 2022

Bank of Lithuania launches probe into fast-track payment processor Verified Payments

The Bank of Lithuania notified the e-Money Institution (EMI) Verified Payments UAB d/b/a Verifo (www.verifo.com), regulated by license no. 27, of an audit to be conducted during the period from May 6 to June 23, 2022. The purpose of the audit is to assess EMI's compliance with applicable anti-money laundering and terrorist financing requirements. In addition to the online banking platform Verifo, EMI also operates a white-label banking solution to leverage its license.

April 26, 2022

Whistleblower Request – The Estonian SMTM Holding and its many payment ventures!

Until recently, SMTM Holding and its various payment ventures were not on our radar. However, in our review of the offshore broker GrandCapital, the high-risk payment processor Black Rabbit came to our attention as a facilitator for crypto payments. It is operated by the Canadian Magua Pay Inc., which also does business as Magua Pay. Magua Pay Inc is just one of many payment ventures of the Estonian SMTM Holding of Israeli Moriel Carmi and Ukrainian Dmitri Orlov. We want to know more about it.

March 31, 2022

An FCA warning & an update on Equals Group with its network of payment processors!

The UK FCA issued a warning against WorldWiseFX a few hours ago, stating that this company would act as a clone of the FCA-authorized CurrencyWave Ltd. Indeed, the websites of CurrencyWave and WorldWiseFX are almost entirely the same. Both claim to act as agents for FCA-regulated firms. However, CurrencyWave is a registered agent of Equals Connect Limited, an FCA-authorized payment processor of the Equals Group, along with 64 other agents. Here's an update on the Equals Group.