Review: FCA-Regulated High-Risk Payment Processor Noda and Illegal Online Casino Activities.

Naudapay Limited, operating under the brand name Noda.live, is a UK-based payment institution regulated by the Financial Conduct Authority (FCA). Noda.live provides open banking services, facilitating secure and efficient payment processing for various sectors, including online gaming. However, recent investigations have raised concerns regarding its potential involvement in illegal online casino activities, particularly through the domain https://bankstransfer.com.

Connection to Online Casinos

The new domain:

• We have identified a strong relationship between the domains https://bankstransfer.com and https://openbanking.noda.live, suggesting that the former may serve as an API for open banking transactions related to Naudapay Limited (Noda.live).
• Almost 90% of the referral traffic to bankstransfer.com comes from openbanking.noda.live, and correspondingly, almost 95% of outbound traffic from openbanking.noda.live primarily directs users to bankstransfer.com.
• No website is connected with this domain. The 404 error when accessing bankstransfer.com directly suggests the notion that it functions primarily as a backend service or API rather than a consumer-facing website.

Association with Unlicensed Operators:

• Noda.live is linked to online casinos such as Zet Casino and Great Win, which Liernin Enterprises Ltd operates, registered in the Marshall Islands. These casinos hold an offshore license from the Philippine Amusement & Gaming Corporation but are reportedly acquiring players in Europe without the necessary regulatory permissions. This raises significant compliance issues regarding their operations in jurisdictions that require local licensing.

Payment Processing Role:

• The domain https://bankstransfer.com appears to function as a payment processing API for Noda.live, facilitating transactions for these online casinos. The high volume of referral traffic from Noda.live to bankstransfer.com, coupled with the substantial outbound traffic to the casinos, suggests that bankstransfer.com is integral to their payment processing infrastructure.
• The analysis of the various subdomains via Urlscan also revealed that Bankstransfer.com is closely linked to the Noda.live system. Therefore, there is no doubt that Bankstransfer.com is controlled and managed by Nodapay.

Read our Zet Casino review here.

Regulatory and Compliance Concerns

1. Legal Implications:
   • The lack of regulatory permission for the casinos to operate in Europe suggests that any payments processed via bankstransfer.com could be deemed illegal. This situation poses a risk not only to the casinos but also to Noda.live, as facilitating transactions for unlicensed operators could lead to regulatory scrutiny and potential sanctions.
2. FCA Regulations:
   • As an FCA-regulated entity, Naudapay Limited d/b/a Noda.live is obligated to adhere to strict compliance standards, including anti-money laundering (AML) and know-your-customer (KYC) regulations. The association with unlicensed gambling operations could jeopardize its regulatory standing and expose it to legal liabilities.
3. Risk of Financial Crimes:
   • The involvement with unlicensed online casinos raises concerns about potential money laundering and other financial crimes. Payment processors are often scrutinized for their role in facilitating transactions that may be linked to illegal activities, which could result in reputational damage and financial penalties.

Conclusion

The analysis indicates that Naudapay Limited d/b/a Noda.live may be operating in a precarious legal environment due to its connections with unlicensed online casinos and the use of the domain https://bankstransfer.com for payment processing. While Noda.live is a regulated payment institution in the UK, its involvement with operators that lack the necessary licenses to operate in Europe presents significant compliance risks. It is crucial for Noda.live to reassess its partnerships and transaction processing practices to ensure adherence to regulatory requirements and mitigate potential legal repercussions.

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