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Category: GNI

May 6, 2021

GlobalNetInt CEO launched new financial services venture Findiban

Liudvikas Kulikauskas, founder, CEO, and shareholder of GlobalNetInt UAB (GNI), an e-Money Institution (EMI) regulated by the Bank of Lithuania with authorization code LB000434, has founded a payment processor Ifind MB d/b/a Findiban (www.findiban.com), together with his wife, Egle Kulikauskiene. The company is apparently positioned as a high-risk payment processor, offering businesses a range of financial services, including SEPA IBAN account, white-label FinTech services, or credit card processing.

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.

January 26, 2021

Follow the Money – Cartu Brothers, Wirecard and GlobalNetInt

GlobalNetInt has for sure no issue with the online gambling business. Gambling is by far their most important client segment. And then there are the Cartu Brothers. Law enforcement agencies and financial market regulators have been after them for years now. The U.S. CFTC and the Canadian OSC have sued David Cartu, Joshua Cartu and Jonathan Cartu for alleged binary options fraud. They ask for money! The CFTC claims damages of $165M in the process. We learned that the Cartu Brothers companies have their accounts at the Lithuanian GlobalNetInt.

January 10, 2021

Scam-Facilitating Crypto Payment Processor Zichain and its network

Zichain OÜ is a crypto payment processor and exchange licensed by the Estonian FIU. Besides, the company is also licensed as a general financial services provider and is doing business as Zichain, Cryptoeye, and Rashbe. Currently, one can only conduct crypto transactions through Zachain. Rashbe is associated with scams like Swiss500 or ApcoFX. In turn, Swiss500 is closely associated with a Russian high-risk payment processor and its network.

January 4, 2021

The Estonian Money-laundering Issue – Crypto Payment Processors BlueData, and Lipan Services

The Estonian regulatory regime had been a severe issue for the EU since the inception of its crypto license program some three years ago. Even though the Estonian Ministry of Finance recently announced that its FIU revoked more than 1,000 licenses, there are still about 400 regulated crypto payment companies active in the market billing themselves as "EU-regulated" payment processors. Companies like BlueData OÜ, or Lipan Services OÜ facilitate and/or operate scams. These companies are also customers of the Lithuanian GlobalNetInt which is part of the network.

January 3, 2021

A Lithuanian Case – Compliance Issues, Law Enforcement, and Whistleblower Protection

FinTelegram lives on whistleblowers and fights together with them against scammers, cybercriminals, and money launderers. Protecting whistleblowers is FinTelegram's highest priority. We are aware that whistleblowers are hated and threatened by the villains they expose. Currently, whistleblowers in Lithuania who have provided valuable information to FinTelegram about scams, cybercrime, and money-laundering are being massively threatened. We are here to help and support them!

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.

TikTok Takedown: America’s Digital Iron Curtain or Silicon Valley’s Secret Weapon?

The recent ruling by the U.S. Court of Appeals for the District of Columbia Circuit has sent shockwaves through the social media industry, upholding a law that could effectively ban TikTok in the U.S. The ruling cited national security concerns. This decision marks a significant escalation in the ongoing tension between the U.S. government and Chinese-owned tech companies.

Truong My Lan: A Tycoon’s Fall from Grace and Vietnam’s $44 Billion Financial Scandal!

The dramatic downfall of Truong My Lan, one of Vietnam’s most prominent property magnates, has sent shockwaves through the country's financial and political systems. The 68-year-old former billionaire is at the center of one of the largest financial frauds in history, a scandal that has not only exposed vulnerabilities in Vietnam’s economy but has also highlighted the intricate relationship between business and politics in the country.

Cash Cow Crypto: U.S. CFTC Enforcement Sets Records in FY 2024 with $17.1 Billion in Monetary Relief!

The U.S. Commodity Futures Trading Commission (CFTC) achieved a landmark year in FY 2024, securing over $17.1 billion in monetary relief, including $2.6 billion in civil penalties and $14.5 billion in restitution. The agency’s groundbreaking actions spanned digital asset (crypto) markets, voluntary carbon credits, and major compliance cases, highlighting its leadership in safeguarding market integrity.

U.S. DOJ’s Whistleblower Pilot Program: 250+ Tips in Just Months!

Whistleblowers are the only effective way to fight financial crime. The U.S. DOJ whistleblower pilot program has already proven effective, generating over 250 tips of potential misconduct since its launch in August, according to Principal Associate Deputy Attorney General Marshall Miller. According to a Reuters report, the initiative targets corporate malfeasance and encourages internal self-disclosure by companies.

Online Gambling: Lokinvestigation in Curaçao, its Maltese Connections, and How to Shut Down!

For many years, the far-far-away Curacao was the regulatory mecca of global online gambling. But that is over. The Lokinvestigation, spearheaded by opposition politician and forensic investigator Dr. Luigi Faneyte, reveals systemic failures and alleged corruption in Curaçao’s online gambling sector. With ties to Maltese investors and global financial networks, the report demands transparency but also carries political implications.