High-risk payment processors | FinTelegram News

Category: High-risk payment processors

March 26, 2023

Wirecard Trial: The Questionable Role Of The Payabl Founders!

The Wirecard trial in Munich against Markus Braun, Oliver Bellenhaus, and Stephan von Erffa is closely followed on Twitter. The private investigator @csfa continuously publishes background information on the trial, which he also attends. Most recently, he shared that he emailed the prosecutors to point out the role of former Wirecard director Ruediger Trautmann and Payabl (formerly PowerCash21). He also exposed some interesting new companies connected to Trautmann and Payabl.

March 23, 2023

Wirecard Legacy: Payabl Versus NomuPay Or How To Grow A Payment Business!

NomuPay, founded and financed by Finch Capital, acquired some companies from the collapsed Wirecard in 2021. Among them also Wirecard Turkey. Payabl was founded in 2011 by Wirecard executives Ruediger Trautmann and Dietmar Knoechelmann and operated as PowerCash21 until 2022. While we see hardly any growth at NomuPay, Payabl, deploying the Wirecard business model with porn, gambling, and online investment merchants, is experiencing explosive growth.

March 21, 2023

Whistleblower Request: Let Us have Information About Vanished Gatwick Advisory Group!

Gatwick Advisory Group is an international corporate services firm specializing in high-risk merchants. The operator was the UK-registered Gatwick AG Ltd. On 23 February 2023, the UK High Court of Justice ordered the company to be wound up. The website has already vanished. On OffshoreCorpTalk and LinkedIn, merchants have shared their views on the scam qualities of Gatwick Advisory Group. We would like to know more about the operators of the now disappeared group.

High-risk payment processors

March 17, 2023

Strange! Crypto Payment Processor CoinsPaid Does ‘Not Announce’ Audited 2021 Numbers!

Crypto payment processor CoinsPaid operates through legal entities in Estonia, Lithuania, and El Salvador. Dream Finance OÜ, the operating entity, which holds a crypto license in Estonia, is controlled by Austrian entrepreneur Alexander Horst Riedinger and led by Max Krupyshev as CEO. In a new press release, CoinsPaid claims to announce 2021 numbers audited by Crowe Global. The truth is that the company does not announce any number.

March 9, 2023

Breaking: Deutsche Handelsbank Fined With €1 Million For Money Laundering Issues!

Deutsche Handelsbank has been the subject of our reports concerning scam facilitation and money laundering several times in recent years. The European Fund Recovery Initiative (EFRI) filed money laundering charges against Deutsche Handelsbank in 2020. Now the investigation by the German prosecutor's office has been ended. A penalty notice was issued, and the bank was ordered to pay a fine of €1 million. Although it is a high fine for such a small bank, EFRI principal Elfriede Sixt is not yet satisfied!

March 5, 2023

High-Risk Payment Processors Kryptova And Paypound Finally Escaped To Nevis!

Now it's official! The two high-risk payment processor schemata Kryptova and Paypound from the environment of the notorious Indian payment veteran Ruchi Rathor are officially operated via the offshore company Next Ring LLC in Nevis. Until recently, the two UK-registered companies, Kryptova Biz Ltd and Self Pay IO Ltd, were the official operators. These are now in the process of voluntary strike-off. The new Nevis address is included in the Offshore Leaks Database.

March 5, 2023

Merchant Alert: Indian High-Risk Payment Processor RagaPay Received Orange Compliance Rating!

The high-risk payment segment has been booming for decades. The business has high margins, as we know from the Wirecard process. The number of high-risk merchants is constantly growing, and with it, the demand for payment services. Unfortunately, most high-risk payment processors are dubious and regularly rip off merchants. RagaPay is an Indian-controlled venture. The cyber rating agency PayRate42 has placed it on the black compliance list.

March 3, 2023

Not ING! How U.S Banking Giant JP Morgan Deals With Its Disastrous FinTech Takeover Deal!

In the U.S., the banking giant JP Morgan paid $175 million for Frank, a fintech startup founded by former CEO Charlie Javice in 2016. Frank offers software to improve the student loan application process for young Americans seeking financial aid. Now, JP Morgan is suing the 30-year-old founder and the startup's former Chief Growth Officer, Olivier Amar for allegedly lying about its scale and success by creating an enormous list of fake users to entice the financial giant to buy it.

High-risk payment processors

March 2, 2023

ChatGPT-Inspired Definition Of High-Risk Payment Processors!

High-risk payment processors specialize in processing transactions for merchants in industries considered high-risk by traditional financial institutions. These industries typically have a higher rate of chargebacks, fraud, and regulatory scrutiny, making them more difficult to process payments. High-risk businesses are prone to fraud. Examples of high-risk industries are online gambling, porn, investments, and cryptocurrency.

February 24, 2023

Request 4 Information: EFRI Is Looking For Scam Victims Facilitated By Payvision

Card payments are the most important and popular online payment systems. Only by checking the billing descriptors (set by the acquirer) can you identify the processing acquirer. EFRI identified the following billing descriptor used by Payvsion when processing the card transactions for Gal Barak and Uwe Lenhoff. EFRI is looking for scam victims that lost money via Payvision. Here are the identifying billing descriptors.

February 23, 2023

Breaking: The PayrNet Scheme Investigated For Money Laundering Causing MuchBetter Service Disruption!

The High-risk payment processor MuchBetter recently stopped most provided services. The service disruption came just days after the Bank of Lithuania ordered PayrNet UAB to stop onboarding new clients on allegations of “severe and systematic violations of the Law on Prevention of Money Laundering and Terrorist Financing.”The regulator also ordered to stop the provision of services through the company's agent UAB MIR Lithuania d/b/a MuchBetter, which may have caused the service disruption.

February 15, 2023

Scandal: Old Money Laundering & Fraud Complaint Against Wirecard Unearthed!

On March 4, 2010, the Munich I Public Prosecutor's Office received a report with a lot of explosive power that could have an impact on the current Wirecard trial. "Criminal complaint for money laundering in the billions against Wirecard AG, Management Board Markus Braun," is the (translated) title of the new complaint, the Austrian Kurier reports. It states that Wirecard's entire business model "is based on the processing of highly profitable but illegal transactions."