Category: High-risk payment processors
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Merchant Alert: High-Risk Payment Processor BitMatix Applied For Voluntary Strike-Off!
The high-risk payment processor BitMatix is part of Ruchi Rathor's network and is operated by her son-in-law Yuvraj Singh. Until recently, BitMatix IO Ltd in the UK was listed as the operator. On January 23, 2023, a voluntary strike-off request was filed by the company. As with the other UK companies in the network, Kryptova, and Paypound. The BitMatix website now states a BitMatix Inc. as the operator. We have not been able to find this company and advise merchants to be super-cautious.
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Follow The Money: The Luxury Lifestyle Of Executives Of Collapsed iPayTotal!
Indian payment veteran Ruchi Rathor's high-risk payment processor scheme iPayTotal collapsed in late 2020. Initially, iPayTotal Ltd was to be quietly dissolved and disappear. But then creditors came forward, and the court opened bankruptcy on the company. The Joint Liquidators report claims in the millions. Senthooran Kuganathan, a/k/a Sen Kugan, was one of the executives of the scheme and cashed a lot of money. He bought himself an expensive house and a Porsche!
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Wirecard Trial: Former CEO Markus Braun Takes The Stand!
The Wirecard trial in Munich has its first highlight today. After hearing the testimony of state witness Oliver Bellenhaus in recent weeks, it was the turn of former CEO Markus Braun today. His questioning will probably take many days. Braun goes back a long way to his childhood, describes his penchant for numbers, and explains that Wirecard was created in 2005 through a reverse IPO where he was CEO, and Payabl founder Ruediger Trautmann was Chief Sales Officer.
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Introducing Online Casino & Sportsbook Operator Rabidi And Its Payment Processors!
GREATwin is one of the many online casino and sportsbook brands of Radini N.V., which operates in the EU with a Curacao license and processes payments through the Cyprus-based payment agent Tilaros Limited. According to Similarweb data, almost 100% of GREATwin website visitors come from EU jurisdictions, with visitors from Germany and Italy accounting for almost 70%. PaymentIQ and Payabl are GREATwin's main payment facilitators. Here is our initial review.
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People Radar: Introducing Payabl Non-Executive Director James Hickman!
According to his LinkedIn profile, James Hickman, a British national, serves as CEO of the publicly traded (AIM: CSFS) Cornerstone FS PLC. Its subsidiary Cornerstone Payment Solutions Ltd, is an FCA-regulated e-money institution. James Hickman also serves as a non-executive director at the UK entity of German-Cypriot high-risk payment processor Payabl, founded and controlled by former Wirecard executives Ruediger Trautmann and Dietmar Knoechelmann.
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Notorious High-Risk Payment Veteran Ruchi Rathor And Her Remarkable Twitter Statements!
Notorious Indian payment veteran Ruchi Rathor has raised a dark empire of high-risk payment processors over the past few decades. In the process, payment processors like iPayTotal regularly disappear with their merchants' money. Most recently, there was a verbal battle on LinkedIn between Rathor's Paypound and a merchant who felt cheated (report here). Now, for the first time, Ruchi Rathor has made public statements on Twitter, indirectly confirming the allegations.
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Impressive: Crypto Payment Processor CoinsPaid Disclosed A Billion Euro Transaction Volume!
Crypto payment processor CoinsPaid operates through legal entities in Estonia, Lithuania, and El Salvador. Through Dream Finance OÜ, it holds a crypto license in Estonia. The company is controlled by Austrian entrepreneur Alexander Horst Riedinger and led by Max Krupyshev as CEO. In a press release, CoinsPaid said it processed a transaction volume of around €3 billion in Q4 2022. This is an increase of more than 30% compared to Q4 2021. CoinsPaid claims that its payment gateway processes allegedly about 8% of global on-chain Bitcoin transactions.
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Request 4 Information: Chapter 7 Bankruptcy Of Payvision Partner T1 Payments!
Donald Kasdon's U.S. high-risk payment processor T1 Payments has received several lawsuits in recent years from former merchants claiming that T1 Payments failed to pay them their money. Apparently, Donald Kasdon is trying to escape these many lawsuits via a Chapter 7 Bankruptcy deposition. T1 Payments was the U.S. partner of ING subsidiary Payvision, which is also desperately trying to settle lawsuits from merchants in the U.S. We would like to know more.
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What Happened With The Vanished Crypto Payment Processor Finanic?
Finanic, a payment processor in Estonia with a crypto license from the FIU, has been involved as a payment facilitator in numerous broker scams. Now Finanic OÜ, founded by Latvian Arturs Eglitis, has been deleted. Already in June 2022, the license was archived, and liquidation was announced. Finanic Ltd, which is registered in the UK, is still active. The website www.finanic.io also vanished. We would like to know more about the disappeared payment processor and their operators.
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Urgent Warning Against Bet Swagger And Cyprus Payment Processor Pulsion Processing!
It is currently common for online casino, sports betting and gambling operators equipped with an e-gaming license in Curacao to have a payment subsidiary in Cyprus. This also has the advantage of having a location in the EU. The operator of Bet Swagger, Usoftgaming N.V., has also chosen this structure and processes the payments of its customers via the Cyprus-registered Pulsion Processing Ltd. We have heard massive complaints from several customers of this scheme. Therefore, we issue a warning.
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Whistleblower Request About SettlePay, CheckoutFX, And Their Shabby Binance Pay Services!
We have found the CheckoutFX payment platform dozens of times among the many broker scams we analyze. This is operated anonymously from Russia and/or Ukraine. Most recently, we found CheckoutFX in the PocketOption broker scheme PocketOption together with SettlePay, a supposedly exclusive Binance partner for the CIS countries, including Ukraine. Through CheckoutFX and SettlePay, deposits from PocketOption clients were misrepresented as food transactions. We would like to know more.