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September 18, 2023

Offshore Broker RoboForex Included In Red Compliance List!

RoboMarkets Ltd is a CySEC-regulated broker d/b/a RoboMarkets. RoboForex is the scheme's offshore broker operated by RoboForex Ltd, Belize, regulated by FSC Belize. RoboForex offers its financial services in EEA jurisdictions without regulatory permission. In addition, we found that the broker's website receives a lot of traffic from Russia. We have added RoboForex to our Red Compliance list. Read our latest review.

September 16, 2023

The U.S. War Against The Russian Crypto Industry!

Before Western sanctions against Russia over the Ukraine invasion began in February 2022, U.S. authorities were cracking down on the Russian crypto scene. Since the beginning of the new sanctions in 2022, the American approach against the Russian crypto scene, which is under general suspicion of money laundering and sanctions violations, has intensified and is bringing charges against Russian crypto schemes and their masterminds.

September 15, 2023

Sanctioned Russian Crypto Payment Processor Garantex Still In Business!

Russian crypto payment processor Garantex lost its Estonian crypto license in March 2022 due to money laundering activities and was placed on the U.S. sanctions list last April. Customers still sign the user agreement with Estonian Garantex Europe OÜ (now Kihonzi Buzhaga OÜ), but the website now gives an address in Moscow City as its official headquarters. With the Russian oligarch Alexander Lebedev, Garantex founder Sergey Mendeleev established the Russian InDeFi SmartBank.

September 13, 2023

OneCoin Co-Founder Sebastian Greenwood Sentenced To 20 Years Prison Time!

Karl Sebastian Greenwood and "Cryptoqueen" Ruja Ignatov were the co-founders of the MLM scheme OneCoin. He has been sentenced to a 20-year incarceration for his pivotal role in the extensive OneCoin fraudulent operations. OneCoin, initiated in 2014 with its headquarters in Sofia, Bulgaria, propagated and retailed a counterfeit cryptocurrency under the same moniker via an expansive global multi-level marketing (MLM) framework.

IOSCO
ticker

September 12, 2023

Warning: Scammer Sende Fake Letters Pretending To be International Organization of Securities Commissions (IOSCO)

Scammers have used regulatory fake letters for a very long time to present themselves as legitimate to their potential victims. Especially fund recovery scams use such fake letters to trick victims into making payments. The International Organization of Securities Commissions (IOSCO) recently alerted about the circulation of fraudulent letters claiming to be from IOSCO. Based on our information, there are two primary types of these deceptive letters:

September 10, 2023

Many Lives Gone: Turkish Crypto Exchange Founder Convicted To 11,196 Prison Time!

A crypto executive from Turkey and his two siblings have been sentenced to 11,196 years in prison each for swindling investors out of millions. In 2021, 29-year-old Faruk Fatih Özer absconded to Albania with significant investor funds following the abrupt shutdown of his Thodex exchange platform. He was later extradited to Turkey in June and was convicted of money laundering, fraud, and involvement in organized crime.

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.

September 8, 2023

Offshore Broker OnspotBNK Vanished After Too Many Regulatory Enforcement Actions!

OnspotBNK has been on our radar since 2022. We found that the unauthorized offshore broker cooperated with FCA-regulated broker One Financial Markets. Since then, financial market regulators from several regulatory regimes, such as Italy's Consob and Spain's CNMV, have warned against OnspotBNK. The offshore broker has changed domains several times but is now likely to have disappeared for good. A successor will surely appear soon.

September 8, 2023

Eric Schmidt And The Legal Problems With The Russian Oligarchs’ Seized Superyachts.

In 2022, global attention was drawn to Russian-owned superyachts following the Ukraine conflict. The illustrious Alfa Nero, considered among the world's most opulent superyachts, is thought to be owned by Russian magnate Andrey Guryev, who faced sanctions from the U.S. The seized vessel's future is now intertwined in a legal conflict involving Guryev's offspring, the Antigua and Barbuda government, former Google head Eric Schmidt, and another bidder.

September 8, 2023

Whistleblower Request: Boiler Room & Broker Scheme Operator Gennaro Lanza And His Activities.

The Italian entrepreneur Gennaro Lanza has long been known to FinTelegram as the mastermind behind boiler rooms and offshore brokerage schemes that offer financial services without regulatory permission in the EEA and other regulatory regimes. Lanza is also known for running fake websites and backdating FinTelegram articles without our consent. While he continues to operate his broker schemes, he makes fake DMCA claims on Google and sends his lawyers. We would like to learn more.

September 7, 2023

Austrian Regulator Warns Against Estonian-Licensed Crypto Exchange MEXC!

The hunt by regulators against unlicensed or registered crypto exchanges continues. The Austrian Financial Market Authority (FMA) recently warned against the crypto exchange MEXC. In Europe, MEXC is operated through MEXC Estonia OÜ, which has a crypto license from the Estonian FIU. However, this license is not sufficient for the FMA, as MEXC provides banking services, the FMA says. Thus, we have orange-listed the crypto exchange.

September 6, 2023

Investor Warning Against Scam Broker Oro Markets Facilitated by Mercuryo and MoonPay!

The Spanish regulator CNMV warned against the broker scam Oro Markets earlier this week. It is allegedly operated by ECB7 Capital Ltd, registered in St. Vincent & The Grenadines. However, we have not found this offshore entity. It is likely to be a fake. Potential victims can lose their money via credit/debit cards and crypto. Payment facilitators are Mercuryo and MoonPay. Stay far away and protect your data and financial health.