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Tag: BridgerPay

December 19, 2020

Praxis Cashier plans to help brokers to raise client-victims deposits up to 20%

An estimated 6-7 out of 10 broker scams use Amit Klatchko's unregulated Praxis Cashier Systems Ltd (d/b/a Praxis Cashier) as a payment processor to process customer deposits. This gives Praxis Cashier the leading market position in the scam segment. With the integration of the broker CurrentDesk, Praxis Cashier aims to be able to increase deposits from "traders" (aka victims) by up to 20% again. This is totally bad news!

December 16, 2020

Investor Warning – Boiler Rooms associated with MegaTradeFX, MarketCapital, or SolidCapital

Austrian Financial Market Authority (FMA) issued an investor warning against the broker scam SolidCapital (www.solidcapital.io), allegedly operated by Royal Gates Ltd, St. Vincent and the Grenadines. The scam works with Anydesk and Boiler Rooms with the phone number +442037692938 (one of many). This phone number is connected to other scams like MegaTradeFX or MarketCapital. As a payment processor at SolidCapital, we noticed BridgerPay again.

December 15, 2020

Investor Warning – Boiler Rooms associated with MegaTradeFX, MarketCapital, or SolidCapital

December 15, 2020

Investor Warning – Boiler Rooms associated with MegaTradeFX, MarketCapital, or SolidCapital

December 15, 2020

UK Watchdog issues warning against Ukraine Broker Scam WFT Group with iPayTotal and BridgerPay

FCA has issued an investor warning against the Forex broker scam WFT Group a/k/a WFT World operating under the domains www.wft.world and www.wft.group. As the operator and illegal payment processor, we found IT Consult Pro Ltd operating through an account at TransferWise Europe with IBAN LT633270001000069681. On the website, Invest Group LLC in St. Vincent and the Grenadines is given as the operator.

Headlines

December 2, 2020

Equiti Group partners with Cyprus payment processor BridgerPay

The Equiti Group is a multi-asset broker regulated under several regulatory regimes including UK, Dubai, and Jordan. The group announces that it has partnered with BridgerPay "to expand the list of global payment solutions." The Cyprus-registered Bridger AI Limited d/b/a BridgerPay (www.bridgerpay.com) was established in 2019 by the Israeli forex veterans Ran Cohen and his partner Yaron Hershcovich.

Headlines

December 2, 2020

Equiti Group partners with Cyprus payment processor BridgerPay

November 13, 2020

Investor Warning – JP Finance with BridgerPay and Coder54

The JP Finance broker scam has already been active for several months. It is currently operated with the domain www.jp.finance by Jean Pierre Technologies Ltd, which is allegedly registered in the Marshall Islands. As facilitating payment processors, we have identified the unregulated Cypriot payment processor BridgerPay from Ran Cohen and Voucher payment service Code54.

October 12, 2020

The PayTech Papers – Regulatory Challenge in Fighting Cybercrime

The revised Payment Services Directive (PSD2) to regulate payment services throughout the EU and EEA came into force in January 2018 and officially kicked-off the “Open Banking Era” with FinTech unicorns TransferWise, Revolut, Monzo, or N26 leading the pack. The number of licensed PayTechs in the EEA exploded as a study published in July 2020 shows. Unfortunately, the number of unregulated and therefore unauthorized acting PayTechs specializing in scams and cybercrime also exploded.

September 18, 2020

BridgerPay – Another Israeli high-risk payment processor ind Cyprus

We have identified BridgerPay as a payment provider of some broker scams in the last few weeks and subsequently put it on the Payment Processor Blacklist. We are of the opinion that without the intentional or negligent involvement of payment processors most of the scams would not be possible in the first place. FinTelegram wants to warn consumers, investors, and the payment industry about these bad payment processors via the blacklist. BridgerPay is no longer on it.

September 12, 2020

German BaFin’s first September warning – TradInvestor broker scam and BridgerPay

On September 11, 2020, the German regulator BaFin issued the first investor warning on the international side this month. Either Germany is free of scammers or BaFin is still shocked by the Wirecard scandal. Either way. BaFin warns against the broker scam TradInvestor, which is allegedly operated by Ez Education. This scam is connected to the TradoFX scam.

September 10, 2020

Austrian FMA warns against forex and crypto broker RaxTrade

The Austrian regulator FMA has issued an investor warning against the RaxTrade broker scam. According to information on the website, the scam is operated by ROI Stock Limited, registered by St. Vincent and the Grenadines, under the domain www.raxtrade.com. As a payment processor, BridgerPay is integrated and credit and debit card payments as well as deposits via crypto the ways to lose money to this scam.