Tag: Bruc Bond

Israeli payment processor BrucBond and its binary options legacyU
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June 30, 2024

Unbelievable! Lithuanian License of Israeli-Controlled Binary Options Scam Facilitator ABC Projektai Reinstated!

In a shocking turn of events, the Supreme Administrative Court of Lithuania (SACL) ruled that ABC Projektai, formerly Bruc Bond and Moneta International, can regain its e-money license. This decision raises serious questions, given the firm's notorious involvement as a payment processor for the fraudulent binary options industry. Bruc Bond, established by the Israelis Eyal Nachum and Tamir Zoltovsky, was infamous for facilitating vast binary options fraud schemes.
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Whistleblower ProgramF
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October 17, 2022

FinTelegram, Regulatory Awakening Calls, And The Lessons Learnt!

In April 2020, the Bank of Lithuania, as the competent regulator, revoked the license of Eyal Nachum's Israeli e-money institution Bruc Bond (formerly Moneta International). The revocation was preceded by numerous FinTelegram reports exposing the payment processor's scam-facilitating activities. In October 2020, the Dutch regulator DNB submitted a Payvision report, in which the allegations raised by FinTelegram were apparently confirmed, as the Dutch financial magazine FD notes.
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Israeli payment processor BrucBond and its binary options legacyC
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August 8, 2022

Cold Case Review: Disgraced Israeli Payment Processor Bruc Bond And Its Binary Options Legacy!

It is a cold case now but still not resolved! Between 2018 and 2020, FinTelegram exposed that a group of Israeli payment processors controlled by Eyal Nachum and his partner Tamir Zoltovsky facilitated binary options and broker scams big style. They worked with entities in Montenegro or the Marshall Islands and with the regulated e-Money Institutions Bruc Bond (previously Moneta International) and International FinTech. In April 2020, the Bank of Lithuania revoked Bruc Bond's EMI license; consequently, the group vanished from Europe, but their scam-facilitating activities remain to be investigated.
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Bank of Lithuania investigates epayblockB
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November 23, 2021

Bravo! Lithuanian regulator follows FinTelegram and revokes license of Epayblock!

FinTelegram has issued several warnings against the notorious scam and cybercrime facilitator Epayblock, an e-Money Institution regulated by the Bank of Lithuania (BoL). Finally, the regulator announced that it revoked the license of Epayblock due to money laundering issues. The regulator said that it received complaints and information about Epayblock customers potentially using its services for fraud. It initiated the investigation and obtained court permission to apply temporary restrictions on the provision of services to its customers.
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FinTelegram Law and Compliance Enforcement Support InitiativeF
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July 16, 2021

FinTelegram launches Law & Compliance Enforcement Support Initiative

We have been cooperating with law enforcement agencies in various countries since the launch of FinTelegram. As insiders and friends know, the establishment of FinTelegram came about as a means of fighting cybercriminals who were taking action against the founders and operators of FinTelegram. These cybercriminals at the time were German Uwe Lenhoff and Israeli Gal Barak. Both were arrested in early 2019, also thanks to the cooperation between FinTelegram and law enforcement.
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GlobalNetInt driving under the influenceL
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June 26, 2021

Lithuanian compliance issue or why GlobalNetInt is grateful for its penalization

A penalty is usually not an occasion for gratitude. That would also make the purpose of a punishment absurd. Usually, one is grateful for a received punishment only if one is aware that one has gotten away well with this punishment and should actually have been punished much worse. A driver who is speeding while massively impaired by alcohol or other drugs certainly grateful is grateful if he is punished by the police only for speeding and not for the offense of driving under the influence (DUI). Similarly, GlobalNetInt (GNI) shows itself grateful for the penalization by the Bank of Lithuania.
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Bafin and the Bank of Lithuania in a compliance disputeI
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May 21, 2021

Interesting German-Lithuanian Compliance Dispute about Wirecard and fintech regulation

The spot is on Lithuania! The Financial Times reported that German prosecutors suspect that more than €100M was stolen from Wirecard via the licensed Lithuanian Finolita Unio. Via this fintech, at least €35M was said to have flowed to fugitive ex-Wirecard executive Jan Marsalek and another €65M to the now insolvent company oCap (previously Senjo Trading) in Singapore. Both Finolita Unio and oCap are part of the Senjo Group, one of Wirecard's most important partners in Asia, and received a loan of €350M from the latter. Finolita Unio CEO Danas Oliskevicius rejects the accusations and blames the German BaFin.
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Request 4 Information Epayblock regulated in LithuaniaR
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March 26, 2021

R4I – Epayblock, illegal payment processor clients, and money-laundering

Amid the hype of binary options, CFDs, and crypto trading, many FinTech entrepreneurs have picked up e-Money Institution licenses in Lithuania. Like Eyal Nachum with his Bruc Bond and International Fintech. Well, they lost the license and went to Singapore. However, MoneyNetint Group and its GlobalNetInt are still there; regulated! Most recently, Epayblock caught our attention because it is repeatedly involved in broker scams as a payment processor. We would like to know more about Epayblock.
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Disgraced FinTech Bruc Bond vanished from EuropeF
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December 21, 2020

Finally gone! Disgraced Israeli Payment processor Bruc Bond et al vanished to Singapore

The Bank of Lithuania revoked the company's EMI license in April 2020. FinTelegram has previously alerted its readers in numerous reports. For this, FinTelegram has been sued for alleged defamation in Israel. The Bank of Lithuania actually fully confirmed the reports and turned the alleged defamation into a proven fact. In the meantime, Bruc Bond has disappeared from the EU and operates on the Asian markets with a MAS license in Singapore. They have gone to conquered Asia.
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Eyal Nachum and his crumbling Bruc Bond empireB
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September 13, 2020

Bruc Bond and the crumbling Israeli FinTech empire

The two Israeli FinTech entrepreneurs Eyal Nachum and Tamir Zolovsky are not having a good time right now. Amidst the COVID-19 pandemic, their two licensed EU e-Money Institutions Bruc Bond and International Fintech saw their licenses terminated. In the case of Bruc Bond because of systematic compliance violations and problems with money laundering. Nachum, Zoltovsky. and their various payment processors have a long track record in the scam area.
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Bank of Lithuania terminates license of International Fintech of Eyal NachumD
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September 8, 2020

Dear Bank of Lithuania – please explain your situation with International Fintech!

According to reports by Lithuanian journalist Vakaris Deksnys, the Bank of Lithuania has terminated the license of the International FinTech UAB of Israelis Eyal Nachum and Tamir Zoltovsky without providing a reason. It already happened in July 2020. No statement was given by the regulator on this matter as it would be necessary and required. That's a strange approach. How can a regulated company simply disappear form an EU regulator's list without further explanation?
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Eyal Nachum and Tamir Zoltovsky and their network of companiesB
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September 7, 2020

Breaking News – Notorious International Fintech no longer has a Lithuanian EMI license

The International FinTech UAB of the Israelis Eyal Nachum and Tamir Zoltovsky has no more license in Lithuania. Thus, within a few months, the two Israeli payment pundits have lost both regulated companies in Lithuania. Already in April 2020, the Bank of Lithuania withdrew the license of Bruc Bond (formerly Moneta International) due to systematic violations of the compliance guidelines and problems with money laundering. At present, it is not clear why International Fintech has also lost its license.
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