High-risk payment processors | FinTelegram News

Category: High-risk payment processors

December 4, 2023

Introducing Better Business Bureau: Understanding The U.S. Rating Agency!

In many lawsuits in the U.S. against financial institutions, Plaintiffs often make reference to the Better Business Bureau (BBB) and the customer complaints mentioned there. Most recently, we saw this in fraud complaints filed against Donald Kasdon and his now-bankrupt high-risk payment processor, T1 Payments. But what is the BBB, and can you rely on their information? We do think so; here is our review and assessment.

November 23, 2023

The Misogenic And Exploiting ChampLife Scheme And Its Payment Facilitators!

Research by STRG_F and Y-Kollektiv comprehensively unveils the unsettling realities of the German-run ChampLife scheme. This scheme sinisterly capitalizes on pushing women onto OnlyFans, exploiting them in a disturbingly orchestrated manner. Touted to offer self-discipline and success coaching, ChampLife insidiously entangles its male members in practices of female domination and exploitation, echoing the notorious ideologies of the globally infamous misogynist Andrew Tate.

November 21, 2023

Tilaros Limited: A Mysterious Cyprus-Based Payment Processor In The Online Gambling Sector!

Cyprus regulators have a super-relaxed attitude towards money laundering and high-risk payment processors. Tilaros Limited, a Cyprus-registered company, has emerged as a significant yet enigmatic player in the online gambling payment processing arena. With its ties to Rabidi N.V.'s casino sites and a lack of online presence, Tilaros raises questions about its operations and compliance with regulatory standards.

November 19, 2023

Finally: The Fraudulent High-Risk Payment Processor iPayTotal Is Gone With The Merchant Funds!

On November 19, 2023, the probably last filings for the bankrupt iPayTotal Ltd were made at the UK Companies House. The liquidator Arvindar Jit Singh reported the end of the liquidation. As one of the many high-risk payment processors of the Indian Ruchi Rathor, the insolvency deprived merchants of many millions. The liquidator reports "only" around £1.9 million unsecured claims that were not paid. But insiders say it was much more. The company is dissolved!

November 13, 2023

Whistleblower Request: Please Provide Information About Cyprus-Based Payment Agent Finzero Cap!

FinTelegram systematically screens the market for payment processors and payment agents that make payment transactions for illegal or unauthorized businesses. This concerns both the online trading sector, where offshore brokers such as PU Prime offer their financial products in various jurisdictions without regulatory authorization, and illegal gambling. One of these payment agents is the Cypriot company Finzero Cap Ltd. We would like to know more.

November 8, 2023

Update NomuPay Group: Doing Business With Wirecard Assets!

In December 2022, we conducted an initial review of NomuPay. Whistleblowers informed us that the founder of the now-closed high-risk payment processor Payvision was behind this payment processor, which was launched in 2021. NomuPay took over essential parts of the collapsed Wirecard and is also said to have taken over the business from Payvision. Here is an update on this interesting company.

November 8, 2023

Whistleblower Request: What Are Your Experiences With Payment Processor ZEN.com?

ZEN.com is a financial institution regulated by the Bank of Lithuania that specializes as a payment processor in high-risk segments such as online casinos. The operator is UAB ZEN.COM, which is managed by Dawid Kamil Rozek as CEO. We have recently received complaints that ZEN.com is freezing customers' funds without providing sufficient justification. We would like to know whether other customers of the financial institution are also experiencing similar problems.

November 1, 2023

The High-Risk Payment Saga: Donald Kasdon, T1 Payments, and Pixxles in the Spotlight!

Miami's very own Donald Kasdon is a notable figure in the global high-risk payment industry, a tough space to be in; it often treads a thin line between legal operations and murky, illicit undertakings. T1 Payments Group was a high-risk payment scheme operated by the Kasdon family until its bankruptcy in early 2023. The FCA-regulated EMI, founded and run by Kasdon's fiance, Amber Fairchild, seems to burn a lot of money without any recognizable business.

October 29, 2023

Interpretation and Summary of Court Order in the Bankruptcy Proceedings Against T1 Payments

U.S. high-risk payment processor T1 Payments was once the partner for ING's now-closed Payvision subsidiary. T1 Payments faced numerous lawsuits from merchants alleging fraud and fled into bankruptcy in January 2023. The payment processor was run by Donald Kasdon, his mother Debra Karen King aka Debra Karen Kason and his fiance Amber Fairchild. The later founded the FCA-regulated e-Money Institution Pixxles Ltd.

October 14, 2023

Be Careful With Non-Licensed Online Casino And Gambling Provider 59Bet!

59bet is an online casino and gambling site focused on the Brazilian market but also solicits customers worldwide. They can deposit via e-wallets, credit/debit cards, and cryptocurrencies. We discovered crypto payment processors, such as MoonPay, as payment processors for credit/debit cards. No operator is given on the website. 59bet falsely claims to be licensed by the MGA in Malta and the Curacao authority. We would like to learn more.

September 9, 2023

BaFin Restricts High-Risk Business Activities Of Payone Over Money-Laundering Issues!

On July 26, 2023, the German regulator BaFin prohibited Payone from conducting transactions for certain business customers belonging to the high-risk portfolio due to high money laundering risks and serious deficits in money laundering prevention. BaFin has also ordered a ban on new customers in this area to prevent the e-money institution from being misused for money laundering.

August 19, 2023

Bold Move: Payment Processor Checkout Terminates Partnership With Binance!

Checkout.com, an FCA-regulated e-Money Institution (EMI) and credit card processing company terminated its contract with crypto exchange Binance due to mounting regulatory concerns and inquiries regarding Binance's operations, Forbes reported. This bold move comes although Binance significantly contributed to its growth and valuation. Checkout also raised questions about the crypto exchange's compliance controls.

The Unraveling of Rabidi and the Rise of the SoftSwiss Network: Our Updated Forensic Report

A few months ago, FinTelegram released a first forensic report on the bankruptcy of Rabidi N.V., a Curacao-registered online casino operator with hundreds of millions in revenues — and no traceable assets by the time of its collapse in May 2024. That report already raised serious questions about the opaque structures behind Rabidi’s operations and its successor, Liernin Enterprises Ltd.

DeFi Decoded: Smart Contracts – The Code Behind the DeFi Revolution

Smart contracts are the invisible architects of decentralized finance. These self-executing lines of code run everything from token swaps to lending platforms without middlemen. But while they offer autonomy, they also introduce new risks—bugs, exploits, and irreversible mistakes. In this fourth installment of our FinTelegram DeFi Series, we explain what smart contracts are.

CFTC

Despite New Crypto Friendlyness: No Settlement Between U.S. CFTC And KuCoin?

A planned settlement between the U.S.CFTC and crypto exchange KuCoin is now in limbo due to a reported policy shift within the CFTC. This change is attributed to the Trump administration’s new approach, which deprioritizes enforcement actions against crypto companies. As a result, a CFTC attorney said that it is "unlikely that such authorization will be granted in the near term" regarding the settlement approval.

SEC’s New Era: Paul Atkins Sworn In—Will Crypto Finally Get the Regulatory Clarity It Deserves?

The U.S. Securities and Exchange Commission (SEC) has entered a new chapter with the swearing-in of Paul S. Atkins as its 34th Chairman, a move widely anticipated to mark a dramatic pivot in how the agency approaches crypto and DeFi regulation. For years, the financial industry—especially the burgeoning digital asset sector—has bristled under the SEC’s “Regulation by Enforcement” strategy.

Crypto Mogul Changpeng Zhao – Fallen, Rich, and Rising Again?

As spring 2025 blooms and Easter’s themes of rebirth fill the air, Changpeng Zhao emerges as one of the most controversial figures of startup mythology: a man who fell spectacularly, paid a price—then rose again, wealthier and louder than ever. Once the almighty architect of Binance, CZ now resides in Dubai with a net worth that Forbes estimates at $63 billion.