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Posts published in “Payvision”

About FinTech Cowboys – Payvision and Bruc Bond and their Wild West Businesses

The Dutch Payvision and the Israeli-Lithuanian Bruc Bond (formerly Moneta International) have in common that they were intensively involved in the fraudulent binary options as payment processors. Let us make no mistake here and therefore make clear that neither of them were scammers or fraudsters themselves. But both have provided services to operators of fraudulent binary options and broker scams and thus facilitated those schemes for their own financial benefit. There have been consequences for both companies in recent days which may or may not be related to their binary options legacy.

Exposed – ING subsidiary Payvision processed €130 million illicit proceeds for now-detained broker scammers Lenhoff & Barak and did so while reporting suspicious activities!

The extent of the damage caused by scam facilitating FinTechs is very clearly shown by the ING subsidiary Payvision. The Dutch Fintech processes some €130 million just for the scams of the two now-imprisoned Uwe Lenhoff (Germany) and Gal Barak (Israel). Thanks to the investigations many sad hypothesis around FinTechs and their role as cybercrime facilitators have been proved by facts and evidence.

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