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Tag: CardPayz

German BaFin investigates CRYPTOLICHT and FINANCIAL-EXPERTS broker scams

BaFin Charlene Lensburg -
The German regulator BaFin announced an investigation into the broker scam CRYPTOLICHT. Currently, the scam operator and illegal payment processor is the Polish company Smarteek Sp. Z.o.o., which has an account with CSFZipp Limited in the UK. Also connected to the scam are the Estonian company TechGuide Solutions OÜ, which in turn operated the Financial-Experts scam with AntariLLa Management Inc in Seychelles. Both sides are online and attack consumers in English and German.

Investor warning against PlusCFD broker scam

FCA tamir -
The UK FCA issued a warning against the PlusCFD broker scam allegedly operated by PlusCFD Limited with the governing law stated in the Terms & Conditions as Cyprus. The FCA also mentions the Marshall Islands as the address of the scam operator. It acts as a clone of the FCA-registered investment company Plus Finance Limited. The scam has integrated a number of payment processors such as Cardpayz, Securepayment, or Gamechangers.

Update on the Trade Com Scam Racket and its facilitating payment processors

Illegal Broker Activities tamir -
The Trade Com Racket is believed to have a headquarters in Albania. JPM Capitals, ProfxCredit, FMA Crypto, Coinmond, GlobalSpotFX, Spotfinex, FXonspot, and TopEuroFX are part of the racket. In January and August 2020, the UK FCA issued investor warnings against the FXonspot scam; in September 2020, the Spanish CNMV followed. The racket offers the trading app TopEuroFX for free download in the Google store. As facilitating payment processors, we have recently discovered Payecards, the Estonian Woodstock OÜ, the UK Cashaa Technologies Ltd, and Net Kantor.

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