Category: PayTechs

BaFin warns against TradInvestorG
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September 12, 2020

German BaFin’s first September warning – TradInvestor broker scam and BridgerPay

On September 11, 2020, the German regulator BaFin issued the first investor warning on the international side this month. Either Germany is free of scammers or BaFin is still shocked by the Wirecard scandal. Either way. BaFin warns against the broker scam TradInvestor, which is allegedly operated by Ez Education. This scam is connected to the TradoFX scam.
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FCA warns against RoyalStox of PumaTS and Leverate networkF
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August 23, 2020

FCA warns against PumaTS-Leverate scam RoyalStox with Praxis Cashier

The UK regulator FCA has issued an investor warning against the scam broker RoyalStox (www.royalstox.com). This is operated by Marom Partners Limited on St. Vincent and the Grenadines. The scam is part of the Leverate and PumaTS network and connected to their Activ8 trading servers. It’s another full-blown scam from without any special features. The scam works with the payment processors Praxis Chashier and QubePay for crypto payments.
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LincolnFX and ZurixCorp broker scams and facilitating payment processorsB
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August 5, 2020

Broker scams LincolnFX, ZurixCorp, and its payment processors

The UK watchdog FCA and the Spanish regulator CNMV issued investor warnings against the scam broker LincolnFX operated by Lincolnfx.capital Ltd. It's still online on August 5, 2020. The FinTelegram Research team has received documents from some of the scam's victims and thus has taken a closer look. Consequently, facilitating payment processors like Plus Exchange or Titan Payments as well as interesting connections have been identified.
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FCA warns against FairBit broker scamI
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August 5, 2020

Investor Warning – FairBit broker scam, Praxis Cashier, and Estonian cypro payment processors

The UK regulator FCA issued an investor warning against the Forex broker Scam FairBit (www.fairbit.com) on August 4, 2020. The scam is officially operated by Gama Solutions Ltd. registered in St. Vincent and the Grenadines. The Scam lures with a super great Fair-Bit Trade engine that would generate large profits for the victims. Praxis Cashier is the payment processor, again.
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August 5, 2020

Investor Warning – FairBit broker scam, Praxis Cashier, and Estonian cypro payment processors

The UK regulator FCA issued an investor warning against the Forex broker Scam FairBit (www.fairbit.com) on August 4, 2020. The scam is officially operated by Gama Solutions Ltd. registered in St. Vincent and the Grenadines. The Scam lures with a super great Fair-Bit Trade engine that would generate large profits for the victims. Praxis Cashier is the payment processor, again.
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Moorwand with Wael Almaree and Luc GuerdianeF
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July 30, 2020

Former Wirecard Head of Business Development now runs FCA-regulated Moorwand

The parallels between the German Wirecard and its UK Mini-Me Moorwand are remarkable. Both companies do and did their business primarily in high-risk segments such as porn, gambling, or online trading. They have accomplished quite a reputation for their laissez-faire KYM/AML/CTF approach. In March 2020, Wirecard's former Head of Business Development Luc Gueriane was appointed Chief Commercial Officer of Moorwand.
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Moorwand and TellerooN
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July 29, 2020

Notorious Moorwand provides agent license to Seedcamp payment startup Telleroo

There's Wirecard. The scandal surrounding the once highly celebrated German FinTech start-up is well known. The company turned into the gravedigger for the reputation of the German regulator BaFin. While Wirecard is for sure a class on its own but then there is also the FCA-regulated Moorwand. This UK e-Money Institution that has been involved in scams, cybercrime, and money laundering with various brands and partners for years. Strange though that the payment startup Telleroo operates with the Moorwand license.
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Mister Tango fined by Bank of LithuaniaI
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July 27, 2020

Investor Alert – Payment Processor Mister Tango aka Secure Nordic Payments

In the last few weeks, we have noticed, based on reports of scam victims and whistleblowers, that more and more payments of scams and investment schemes are processed via MisterTango. The "MisterTango" brand is operated by Secure Nordic Payments UAB, regulated by the Bank of Lithuania. The company was fined by the Lithuanian regulator in October 2019 for non-compliance with money laundering (AML) regulations.
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R4I payment processor PradexxR
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July 27, 2020

Request 4 Information – Israeli-Estonian Payment Processor Pradexx

Some of the PumaTS broker scams are facilitated by the Israeli-Estonian payment processor Pradexx OÜ. This company is the legal entity operating the FIAT payment platform Pradexx (www.pradexx.com) and the crypto payment platform NextPayWay (www.nextpayway.com). According to the information provided on its website, NextPayPay has managed to acquire "over 380,000 people across 123 countries since 2018." Impressive, isn't it? We would like to learn more.
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Certus Finance Request 4 InformationR
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July 16, 2020

Request 4 Information – Russian Payment Processor Certus Finance

FinTelegram News has been investigating the white label broker platform provider PumaTS for several weeks. With the white label solutions of PumaTS dozens of broker scams are operated in the area of Forex, CFDs, and Cryptos (see reports about PumaTS here). In the course of analyzing the FinTelegram documents submitted by a whistleblower we also came across the payment processor Certus Finance.
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