High-risk payment processors | FinTelegram News

Category: High-risk payment processors

January 18, 2023

Merchant Alert: New iPayTotal Joint Liquidators Report Missing Assets And Millions!

The Joint Liquidators of bankrupt iPayTotal, which belongs to the group of high-risk payment processors of the Indian group around the notorious Ruchi Rathor and the Pratap Singh family, submitted its second progress report on January 16, 2023. There is not much new information in it. The Joint Liquidators report no assets. Nine former customers (merchants) have filed claims of around $2.2 million. Millions vanished from the company into the pockets of the participating individuals.

High-risk payment processors

January 17, 2023

Update On High-Risk Payment Processor Hawex Group And Its Russian Connections!

The motto of FCA-authorized payment agent Hawex is "above the banks." The UK entity Hawex Group was controlled by Russian Kirill Baldakov until March 2022. Since October 2022, Hawex Investment LLC, registered in Dubai, has been controlling the UK entity. A UBO is not specified, but allegedly, it is still a Russian venture. According to our information, Indian payment veteran Ruchi Rathor is one of the Hawex partners. We reported Hawex's collaboration with FCA-regulated Connectum (report here).

January 16, 2023

Merchant Alert: Notorious Indian Payment Veteran Launched Pay Agency!

Reportedly, Indian payment entrepreneurs Ruchi Rathor, her son-in-law Yuvraj Singh and their family are allegedly residing in Dubai. There they enjoy the money they earn through the merchants of their numerous high-risk payment processors. Every week we receive complaints and warnings against various schemes like PayPound, Payomatix, or OpenUp. With Pay Agency, Rathor has launched the next project to address the high-risk payment segment. We recommend merchants and the highest caution.

January 16, 2023

Online Casino Mostbet: Russian Client Deposits Processed By Corefy et al!

In our systematic screenings of payment processors, we have recently discovered that the payment processor Corefy (formerly PayCore), operated by Ukrainians around Denys Kyrychenko, facilitates, among others, the online casino, sports betting, and gambling scheme Mostbet. It processes deposits from Russian visitors via obscure domains. In addition to Corefy, we have discovered ChangeCoins for crypto and the Russian Perfect Money. Cyprus-based Venson Ltd operates Mostbet under a Curacao license.

High-risk payment processors

January 14, 2023

Visa Welcomes High-Risk Payment Processor Payabl In Direct Preferred Partner Program!

Cyprus-based high-risk payment processor Payabl has become the latest addition to the Visa Direct Preferred Partner Program, PaymentExpert reports. The membership will provide Payabl access to Visa’s tools to improve real-time payment solutions. There is an intense discussion on Twitter about the payment processor specializing in porn and gambling and its founders, Ruediger Trautmann and Dietmar Knoechelmann. The company recorded a 182% YoY growth with its high-risk merchants.

January 14, 2023

Interesting! The Shabby Business Of Maltese High-Risk Payment Processor Maxpay and Max Polyakov!

According to extensive research by Alex Kasprak, senior reporter at Snopes, subscription trap scams account for 61.6% of referral traffic to Maxpay. Moreover, 21% of the referral traffic comes from fake merchants used for sweepstake schemes. Nearly 24% of Maxpay's traffic comes from online dating websites. One Night Friend, Flirt, Uniform Dating, Tender Meets, and BeNaughty are all associated with Maxpay founder and controlling shareholder Max Polyakov or his Together Networks.

January 13, 2023

Wirecard Trial: Crown Witness Told Court That Payabl Founder May Have Established The Asian Connection!

German prosecutors believe Dubai and Asia hold the key to uncovering the Wirecard scheme. This is also where the (actually non-existent ) billions are said..

January 12, 2023

Wirecard Trial: “We Made That Up, Of Course,” Crown Witness Told Court!

In the Wirecard trial in Munich, the prosecution's key witness, Oliver Bellenhaus, told the court that the "third-party business" and the alleged billions in sales of the Dax group, which collapsed in 2020, were fictitious, he said. And yes, the former Wirecard CEO Markus Braun was actively involved. "We made that up, of course," Bellenhaus said on the sixth day of the trial about the billion-dollar bookings in escrow accounts in Southeast Asia.

January 12, 2023

Merchant Alert: High-Risk Payment Processor Paypound

Edward Tabus is the CEO of Mad Money Casino, which operates through MMC Global B.V. with a license from Curacao. The payment agent is MMC Global Holdings Limited in Cyprus. And with the payments, the Mad Money Casino has a problem. In particular with payments that should come from its payment processor Paypound. On LinkedIn, Edward Tabus has described in detail how Paypound withholds payments. FinTelegram has already warned about Paypound a few times.

January 11, 2023

Interesting! Visa Cuddles Up With High-Risk Payment Processor Payabl Despite PornHub Causa!

In August 2022, Visa and Mastercard suspended card payments for TrafficJunky, the advertisement arm of MindGeek, owner of the website PornHub, after a lawsuit raised questions over whether the payment firms have facilitated monetizing child porn and sex trafficking. A federal judge in California rejected Visa's motion to dismiss a lawsuit by a woman who alleges the company facilitated the distribution of child porno on PornHub and other websites run by MindGeek.

January 11, 2023

Merchant Alert: High-Risk Payment Processor Kryptova About to Vanish?

Kryptova Biz Ltd d/b/a Kryptova (www.kryptova.biz) is or was an unregulated crypto-focused high-risk payment processor. The company was established in October 2021 by the Indian citizen Chhavi Mishra and is controlled via an offshore entity on the Isle of Nevis. We suspect that Kryptova is part of the network of Indian-British payment veteran Ruchi Rathor. Currently, one of Kryptova's websites has gone offline, and a first notice for a compulsory strike-off is registered at the UK Companies House.

January 10, 2023

Whistleblower Request: Anonymous Payment Gateway Savannah.tech!

An anonymous payment gateway for high-risk merchants runs under the domain Gate.Savannah.tech. In addition to an extensive API, it also offers plugins for various platforms such as WooCommerce, Magento, or OpenCart. The payment gateway is quite well-frequented, with almost 30,000 accesses per month. It is closely linked to other payment processors and gateways like GummBallPay, PraxisPay, or PaynetEasy. We have discovered Savannah.tech in some scams and would like to know more about the operators and users.