European FinTech Ecosphere | FinTelegram News

Category: European FinTech Ecosphere

February 19, 2021

Ozan Ozerk’s Eurotrade Group with CySec-regulated EuroTrader and LQFX

FinTech entrepreneur Ozan Ozerk is a remarkable man. He has built an impressive empire of regulated and unregulated FinTech companies in various jurisdictions over the last few years. These include European Merchant Bank in Lithuania, Ozan Ödeme Hizmetleri ve Elektronik Para AŞ in Turkey, and several FCA-regulated institutions in the UK. This is the official site of Ozan Ozerk, which he runs through his Akce Group and OpenPayd Group. Then there are his gambling and forex empires.

February 6, 2021

GNI Leaks – Introducing high-risk payment processor group EMP CORP

FinTech entrepreneur Ozan Ozerk is a remarkable man. Hee has spent the last 10 years building a FinTech empire around Akce Group that ranges from the Lithuanian-registered European Merchant Bank to the FCA-regulated OpenPayd Group. He has also established processing gift card and voucher companies to process payment transactions of gambling, betting, lotteries, and online casinos for EMP CORP. We have started with the research of EMP CORP. Here is the first part of our reports.

December 20, 2020

AML: Another Chief Compliance Officer departs from GlobalNetInt

Lithuanian GlobalNetInt has had an audit from the Bank of Lithuania in recent months. The company focused on high-risk clientele appears to have compliance, KYC, and AML issues. Among the clients are many forex and crypto firms as well as payment processors associated with and/or facilitating scams. The problems with compliance were also confirmed to us by a consultant. Now the Chief Compliance Officer (CCO) is also said to have left the company.

December 17, 2020

FinTech Review – FCA-regulated Bilderlings with Latvian roots

Bilderlings Pay Limited is regulated as an authorized e-money institution under reference No 900637 since May 2018. The institution is doing business as Bilderlings (www.bilderlings.com and www.bilderlings.eu) and offers international payments with app and debit card. Like TransferWise et al. The company was founded back in December 2015 and is led by Latvians Deniss Polakovs and Andrejs Zaharovs. Until recently, Latvian Aleksandrs Peskovs was listed as the beneficial owner.

December 17, 2020

PXP Financial and MoneyNetInt cooperate for cross-border payments

Regulated by the FCA with reference No 504318, PXP Financial Limited as an Authorized Payment Institution was originally founded as Kalixa Accept Limited by Austria's Bwin. Following the acquisition of Bwin by public-listed GVC Holdings PLC, Kalixa was sold to Senjo Group for €29 million in late 2019 and renamed PXP Financial. The company recently announced its cooperation with FCA-regulated MoneyNetInt Group. Senjo Group was one of the largest - and, according to the Financial Times (FT), most opaque - partners of the collapsed Wirecard.

November 13, 2020

R4I – The AKCE Group, European Merchant Bank, and OpenPayd Group

The FinTech entrepreneur Ozan Ozerk was born in Nicosia, Northern Cyprus. He moved to Norway. His father is a professor at the University of Oslo's Department of Education and his mother is a senior advisor at an institution specializing in children with learning disabilities. Ozerk is the beneficial owner of the Akce Group and a number of regulated and unregulated FinTech companies in Lithuania, Cyprus, Malta, and the UK. We would like to know more about Akce Group, OpenPayd Group, and its network.

Compliance Report: Sergey Mendeleev, Garantex, and Exved – The Rising Role of Crypto in Russia’s Sanctions Evasion Strategy

Sergey Mendeleev, a prominent figure in Russia's cryptocurrency scene, has played a central role in the establishment and operation of two key platforms—Garantex and Exved. These platforms have been instrumental in facilitating cross-border payments and crypto transactions, potentially serving as important tools for Russia’s sanctions evasion strategy. Mendeleev's growing influence in this space, coupled with Russia's evolving regulatory framework, positions him as a key player in Russia.

Russia’s New Crypto Strategy for Sanctions Evasion

Russia’s new crypto laws, allowing mining and international payments in digital currencies, are part of a broader strategy to evade Western sanctions and reduce dependence on the U.S. dollar. This move, led by the Central Bank of Russia (CBR), opens up new compliance risks for global financial institutions dealing with Russian entities. The new laws are set to take effect in September for cross-border payments and in November for crypto mining.

Secretive Cyprus Funds Used to Obscure Megayachts and Real Estate Linked to Sanctioned Russian Banker

A recent OCCRP investigation revealed that Cyprus-registered RAIFs were used to hide megayachts and real estate linked to sanctioned Russian banker Andrei Kostin. These secretive funds, managed by Inveqo, allowed clients to avoid disclosing their ownership, raising concerns about the effectiveness of sanctions and regulatory enforcement. The case highlights the challenges of ensuring transparency and preventing financial crime in the global investment landscape.

First-Ever Crypto Seizure in Scotland Under New UK Law

Crypto has undoubtedly become mainstream, particularly in the cybercrime sphere. In a first for Scottish law enforcement, £110,000 in cryptocurrency has been confiscated from John Ross Rennie following a violent robbery. Under new UK rules, police can now seize crypto assets without needing to make an arrest, highlighting a growing focus on tackling digital crime as incidents involving cryptocurrency continue to rise.

Former Lebanon Central Bank Governor Riad Salameh Charged with Financial Crimes

It was a long-expected move. The powerful former Lebanon Central Bank Governor Riad Salameh has been arrested and charged with embezzling $42 million in public funds, part of a broader $110 million fraud case. His detention comes amid ongoing domestic and international investigations into financial misconduct during his controversial three-decade tenure. In 2022, the European Union Agency for Criminal Justice Cooperation (Eurojust) froze assets worth €120 million tied to Salame.