The authorities in some European countries have been investigating for months in the matter of binary options scams from KontoFX and related scams such as KayaFX. FinTelegram has received confirmation that the investigations will also be coordinated via Europol. The European Funds Recovery Initiative (EFRI) co-founded by FinTelegram has also been collecting reports from victims of these scams for months. Elfriede Sixt, the principal of the EFRI initiative, regularly sends reports to the competent authorities updating them on new victims and perpetrators.
International Fintech UAB facilitated scams
Most recently, we found that the International Fintech UAB (www.international-fintech.com) of the Israelis Eyal Nachum and Tamir Zoltovski, registered in Lithuania and regulated by the Bank of Lithuania under the electronic money institution license, were involved in these scams as payment service providers (PSPs). Some victims have provided us with payment receipts. One victim, for example, transferred €4,995 to Bluedata OU‘s account at International Fintech UAB. BlueData OU, registered in Estonia, was one of the operators of the KontoFX Scams account with a certain Ken Kõvask as its frontman (monkey).
Eyal Nachum and Tamir Zoltovski
FinTelegram has already pointed out several times that the payment service providers Payobin (Payotech Ltd), Moneta International UAB (now
For this claim, Nachum and Zoltovksi have threatened FinTelegram with lawsuits and also sent thugs to the publisher of FinTelegram. The indisputable fact, however, is, that FinTelegram and EFRI have a lot of evidence, which proves without any reasonable doubt that the mentioned companies as well as Nachum and Zoltovski kept accounts of Scams and accepted them as merchants.