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Posts tagged as “David Cartu”

Preventing Cybercrime – The Praxis Question, the Estonian Challenge, and why it’s important to take action against financial services providers!

It is almost boring to repeat the same statement over and over again - financial service providers have a very special responsibility for the well-being of society, the economy, and consumers. This responsibility is the reason why we do have financial market supervisory regimes and why financial service providers need licenses and permits. Efficient KYC/AML/CTF procedures are a conditio sine qua non for the dawning cybersociety. In view of the booming cybercrime, we must work much more radically on a global compliance regime.

The Wirecard Conspiracy – About short-sellers, fanboys, and vanishing companies

The German Wirecard is something like the drama queen in the international FinTech scene. True to the company slogan "beyond payments", Markus Braun's DAX-listed company reliably delivers spectacular headlines. Most of them are currently negative and are either related to accusations of balance sheet manipulation, compliance problems, or short-sellers. The KPMG audit report presented at the end of April 2020 has caused the Wirecard drama to escalate, again. Since then, the share price has plunged from almost €139 to just under €76. And the drama is far from over, it seems.

GreyMountain Management and Wirecard – The Irish Binary Options Collusion and Laundromat

GreyMounting Management Ltd (GMM) started its Irish operations in May 2014 and was sent into liquidation in July 2017. In more than 3 years, hundreds of millions of payments from client-victims of owned and/or related binary options scams have been processed. Former GMM employee and developer Simon Kinsella estimated that in the period between April 2016 and June 2017, $150 million in credit card payments were processed through GMM. This does not include, however, payments through the other legal entities of Cartus. Neither are bank transfers. In his statement, Kinsella also confirms Wirecard's close involvement with GMM and the existence of Snow Charge, an alleged money-laundering system.

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