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Tag: Cento GX

Spanish CNMV issues warnings against 12 illegally operating financial websites!

CNMV Ben -
As usual, the Spanish regulator CNMV issued its new warnings on Monday. This time against 12 websites that offer regulated financial products without permission. Some of the warned scams like BenefFX or Cento GX we know and have issued warnings in the past. We will take a closer look at the other warned providers and bring detailed reports soon. It is always interesting for our research team to compare the regulators' findings with ours. Below is the list of new warnings.

Finally! German BaFin follows FinTelegram and investigates CentoGX

BaFin Ben -
FinTelegram has issued several warnings against the CentoGX a/k/a Cento GX (www.centogx.com) broker scam in recent months. The fraud broker has recently focused on acquiring German-speaking victims with a dedicated website. The Spanish regulator CNMV already issued a warning in October 2021. The German BaFin has now announced an investigation into the CentoGX scam. It was also high time, but the German regulator is not known for its speed.

Spanish regulator warns against more than a dozen illegal financial websites!

CNMV Ben -
Spanish CNMV has apparently been working intensively over the past week. At least in the department responsible for issuing investor warnings against scams and illegal activities in the cyberfinance segment. On October 25, the CNMV issued warnings against more than a dozen illegal websites and their operators. Some of them, like CentoGX or FXQuote247, are already known to Fintelegram readers. We will analyze and report on the rest. Please find the list of the brands the CNMV warned against below.

Attention! Another warning against Finomarkets broker scam!

CNMV Ben -
We have already warned against the Finomarkets (www.finomarkets.com) scam several times. A few weeks ago, the Spanish regulator CNMV warned, and now the UK FCA issued an investor warning. The Finomarkets website does not specify an operator or a competent jurisdiction. Coinicash is the facilitating payment processor for credit and debit card payments with Texcent and AdvCash, who process the payments. Victims’ deposits are represented and miscoded as purchases of cryptocurrencies on the Coinicash exchange.

Wellington Holdings, Solid Invest, and the huge Capital Letter scam network

BaFin Ben -
It is indeed a huge scam network. Scams will typically either take offshore companies or simply invent fake companies. Only rarely, they are operated by companies in Europe as is the case with the Capital Letter scam network. Capital Letter GmbH, registered in Munich, Germany was the operator of several large scams until the end of 2020. In addition, two other companies also registered in Germany, Brunnlitz GmbH and Tokkata Software GmbH, participated in the scams. All three companies are operated by Ukrainian individuals; all received warnings from regulators.

Alert! Wellington Holdings scam facilitated by SysPay, Coinicash, and AdvCash

FINMA tamir -
The Swiss regulator FINMA has recently issued an investor warning against the Wellington Holdings scam (www.wellingtonholdings.com). The scam operators do not disclose any information about the legal entity or persons but give Bleicherweg 10 in 8002 Zurich, Switzerland, as the address. This is bullshit, says FINMA. As a payment processor, we once again found SysPay, regulated by the Maltese regulator MFSA, in criminal collusion with Coinicash and AdvCash. We also noticed this combination most recently in the Cento GX scam.

Investor warning – FinoMarkets facilitated by Coinicash, AdvCash, and Texcent

CNMV tamir -
Spanish financial markets authority CNMV issued a warning against FinoMarkets on September 13, 2021. The scam's website does not specify an operator or a competent jurisdiction. However, we have again Coinicash acting as a payment processor for credit and debit card payments. Coinicash is again facilitating in its capacity as a registered merchant with Texcent and AdvCash, who actually process the payments. Victims' deposits are apparently represented and miscoded as purchases of cryptocurrencies on the Coinicash exchange.

Alert! Fraud campaigns CFDSociety, AI Stock Profits, and Forex Maverick chase victims

Affiliate Scams tamir -
This morning we find an email from [email protected] that leads us to the websites CFDSociety (https://thecfdsociety.com), AI Stock Profits (https://aistockprofit.com/) and Forex Maverick (https://forexmavericks.com). There run fraudulent marketing campaigns that promise quick wealth or high income. AI Stock Profits promises $2,500 per week and Forex Maverick $5,000 income per day. All campaigns today promote Cento GX broker facilitated by Coinicash, AdvCash, and SysPay.

Maltese SysPay, Coinicash, and AdvCash facilitate the Gento GX scam and others

Illegal Broker Activities tamir -
It is no secret that we consider scam-facilitating payment processors to be much more dangerous than the scams themselves. These payment processors make the scammer scene possible; they are the facilitators of the fraud attacks on consumers and retail investors. Many crypto payment processors have been established in recent years, giving the high-risk and scam-facilitating scene another boost. In many cases, crypto payment processors hold bank accounts with regulated institutions to facilitate scams like Coinicash, AdvCash, and PaySys in the Cento GX scam.

Investor warning – Illegal Cento GX broker chases victims via Crypto Hopper

Affiliate Scams tamir -
The Crypto Hopper marketing campaign is on the hunt for potential victims for various brokers. Most of them are either illegally operating brokers or outright scams. In today's screening, we found the Cento GX broker scam via Crypto Hopper. The operator of this scam is said to be Cento GX Ltd, with an address in London, United Kingdom. We did not find the company. The payment processors we found are Coinicash and AdvCash, which are integrated with the SysPay cashier. Victims can lose their money with credit and debit cards or with Bitcoins.

FinTelegram is a cyberfinance intelligence and compliance platform investigating financial crime, regulatory violations, and the rails, entities, and ecosystems that facilitate them. Combining investigative journalism, whistleblower intelligence, and forensic compliance analysis, we map risk across payments, banking, crypto, and offshore structures to support transparency, accountability, and informed action.

Contact us: [email protected]

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