Lithuanian Compliance Issue – Findiban website switched into maintenance mode

Findiban and the GlobalNetInt with Egle Kulikauskiene
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The Lithuanian Liudvikas Kulikauskas is the co-founder, CEO, and shareholder of GlobalNetInt UAB (GNI), an e-Money Institution (EMI) regulated by the Bank of Lithuania. Additionally, he and his wife Egle Kulikauskiene launched the payment processor Ifind MB d/b/a Findiban (www.findiban.com), which was 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. Currently, the Findiban website is in maintenance mode and hence down.

Interestingly, in the Lithuanian company register, the name of Egle Kulikauskiene, which was visible at the time of our first report, was deleted. According to the companies register, Ifind, MB (LinkedIn) was established in the summer of 2020 and operates as a non-licensed financial services provider that brokers merchant accounts or financial institution accounts. Findiban describes itself as friendly to “high-risk payment industries” and accepts Forex, Gambling, or Porn. Findiban also supports the creation of white-label EMIs or PSPs.

Egle Kulikauskiene (LinkedIn) is the wife of Liudvikas “Liudas” Kulikauskas (LinkedIn) and currently serves as Head of HR at Lithuanian EMI Paysera, which the Bank of Lithuania also regulates. We do not know whether the Findiban activities are in line with the Lithuanian compliance regime. We also do not know whether GNI and Paysera support Findiban‘s activities. Finally, we do not know whether Findiban continues its operation and website. We will continue to watch and report.

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