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January 14, 2024

FinTelegram Maintains Orange Compliance Listing For Offshore Broker BDSwiss!

German entrepreneur Jan Malkus has been identified as the beneficial owner behind the controversial broker scheme BDSwiss, a group that has faced significant regulatory challenges in various jurisdictions over the last three years. Therefore, the CySEC-regulated BDSwiss became an offshore broker supervised by offshore regulators. The successor CySEC scheme, Viverno, does not seem to be successful. We maintained the Red Compliance listing.

February 5, 2023

CySEC-Regulated BDSwiss Rearranged Its Domains And Business Activities!

2022 was for sure a difficult year for the BDSwiss scheme. For a few months in Q2 and Q3 2022, the CySEC-regulated German BDSwiss has not been accepting new clients. In March 2022, the German BaFin launched investigations against the offshore broker BDS Markets. In May 2022, the FCA banned BDSwiss from the UK due to its offshore activities. Our review today found that the CySEC-approved domains BDSwiss.com and EU.BDSwiss.com have been terminated. Here is an update.

June 1, 2022

Quo Vadi BDSwiss? Still Not Accept New Clients And A Resigned Director!

Since Mid-April 2022, the CySEC-regulated German BDSwiss has not been accepting new clients. We have been following the activities of the CySEC-regulated BDSwiss and have reported extensively on their offshore onboarding. We have been threatened several times by their Compliance and Legal Departments for doing so. In our re-check on 1 June 2022, we learned that the BDSwiss website continues to inform visitors that no new clients are accepted until further notice. Moreover, former director Catalina Pantea informed us that she resigned in Jan 2022 and has no clue about the current state of affairs.

April 15, 2022

Interesting – BDSwiss Group complained about the “present tense” style of reports!

In the last few hours, first Evripidis Oskis, Reputation Officer, and Haris Constantinou, Legal & Compliance officer of CySEC-regulated BDSwiss Holding Ltd, complained about the latest FinTelegram review about their offshore activities. Especially the headline concerning "continues its illegal offshore onboarding activities" would be false. At least in the "present tense," argues the Legal & Compliance Offer. The FCA banned the BDSwiss Group in 2021. In March 2022, German BaFin launched an investigation saying that BDS Markets has no permission to offer ist regulated services in Germany.

April 11, 2022

Attention! CySEC-regulated BDSwiss continues its illegal offshore onboarding in Europe

The BDSwiss Group d/b/a BDSwiss, Swiss Markets, and BDS Trading. These are the trading names of BDSwiss Holding Ltd, regulated by the Cyprus CySEC. The offshore entity BDS Markets, regulated by FSC in Mauritius is part of this BDSwiss Group. The FCA banned BDSwiss Group in June 2021 The German BaFin launched an investigation saying that BDS Markets has no permission to offer ist regulated services in Germany. In our review, all CySEC-approved domains were redirected to the offshore broker websites. Here is another update!

March 2, 2022

Finally! German BaFin prohibits offshore activities of CySEC-regulated BDSwiss Markets!

Swiss Markets and BDSwiss are registered trademarks of BDSwiss Holding Ltd, regulated by the Cyprus CySEC with license number 199/13. BDS Markets is part of the BDSwiss Group. The company is regulated by the Financial Services Commission (FSC) in Mauritius with License Number C116016172. The German BaFin issued a statement, saying that the offshore broker BDS Markets has no permission to offer ist regulated services in Germany. Currently, CySEC-regulated BDSwiss is no longer accepting new clients.

OpenAI Closes $6.6 Billion Funding at $157 Billion Valuation, Nearly Doubling its Valuation!

The AI pioneer OpenAI under Sam Altman closed its long-awaited funding round, announcing that it raised $6.6 billion at a $157 billion post-money valuation. OpenAI’s $157 billion valuation underscores its AI dominance, yet losses loom large. Will Thrive Capital, Microsoft, and Nvidia’s backing help steer the ship through the challenges ahead? Stay tuned for more.

High-Profile Maltese Money Laundering & Corruption Case Continues with Keith Schembri Challenging Forensic Expert’s Impartiality!

Keith Schembri, former Chief of Staff of the Maltese Prime Minister, is accused of money laundering and corruption. His legal team has requested that forensic expert Samuel Sittlington, Police Commissioner Angelo Gafa, and former Deputy Commissioner Alexandra Mamo testify to clarify alleged negotiations for consultancy services during the investigation. The defense calls into question the expert’s independence, further complicating an already contentious trial.

Circle Joins U.S.-Led Initiative to Combat Illicit Finance in Virtual Assets!

Erik Rosenblatt, a senior leader at US stablecoin issuer Circle, will represent the company on the Illicit Virtual Asset Network (IVAN) board. Prior to joining Circle, Rosenblatt spent over two decades as a special agent with the U.S. Department of Homeland Security and the U.S. Department of the Treasury. As part of IVAN, Circle will have a voting role in determining the network's priorities and membership.

Evil Corp: A Comprehensive Report on Russia’s Family-Driven Cybercriminal Organization!

The U.S. Department of Justice and Department of Treasury have taken significant action against Evil Corp, a Russia-based cybercriminal group responsible for developing and distributing malware that has stolen over $100 million from banks and financial institutions across 40 countries. Evil Corp appears to operate as a family enterprise, with multiple family members involved.

Good News For Crypto: SEC Enforcement Director Gurbir S. Grewal Steps Down After Impactful Tenure!

The U.S. Securities and Exchange Commission (SEC) is set to experience a significant leadership change as Enforcement Director Gurbir S. Grewal announces his departure. Grewal oversaw a period of heightened regulatory activity specifically targeting the crypto sector. Under his leadership, the SEC Filed high-profile lawsuits against major cryptocurrency exchanges, including Binance and Coinbase.