GNI | FinTelegram News

Tag: GNI

May 5, 2021

Whistleblower proves! StoxMarket boiler room scam is active again!

FinTelegram News was founded in early 2018 with the mission of investor protection. Since then, we have faced numerous threats, DDoS attacks, and also lawsuits. We have survived everything so far and defeated some of the bad players. Some companies have lost their licenses, and some scammers have been sentenced to prison and fined millions for investment fraud. All this would not have been possible without whistleblowers. They are the heart of our project. Now a whistleblower has proven that the StoxMarket scam is indeed alive.

May 4, 2021

GlobalNetInt, Converta, and the StoxMarket connection

The Romanian CONVERTA DIGITAL MARKET S.R.L. (CONVERTA) is an authorized agent working for the Lithuanian EMI GlobalNetInt UAB (GNI), which the Bank of Lithuania regulates with the authorization code LB000434. CONVERTA has its registered office in Bucharest. There is nothing special about the Romanian payment processor except one former beneficial owner: at the time of the conclusion of the agent agreement with GNI, the Israeli Mordechay Litke was (or maybe still is) one of them. And he was one of the scammers behind StoxMarket et al.

March 26, 2021

Follow the money – Global Markets scam proceeds laundered via GlobalNetInt

We have recently reported on the GlobalMarkets (a/k/a Glob Markets) broker scam, which has been highly active over the last few years but seems to be disappearing. The scam was operated under various domains by Cubic Services Ltd, Seychelles. Numerous regulators have warned against the scam and the operator since 2019. Despite these public warnings, how could the scam still steal customer funds? If you follow the money trail, you again end up with MoneyNetint Group (MNI) and its GlobalNetInt (GNI) in Lithuania.

March 21, 2021

High-Risk payment processor MoneyNetint goes Brazil with RippleNet

MoneyNetint, the FCA-regulated Israeli e-Money institution around Yishay Trif and Raphael Golan, announced a new payment service for merchants doing business with Brazil. Together with Banco Rendimento in Sao Paulo, a clearing system based on the RippleNet blockchain is to be launched. This is intended to enable payments to Brazilian companies and individuals to be made without friction and at low cost. The system is compatible with the Brazilian instant payment system PIX, MoneyNetint claims in its blog post.

January 3, 2021

A Lithuanian Case – Compliance Issues, Law Enforcement, and Whistleblower Protection

FinTelegram lives on whistleblowers and fights together with them against scammers, cybercriminals, and money launderers. Protecting whistleblowers is FinTelegram's highest priority. We are aware that whistleblowers are hated and threatened by the villains they expose. Currently, whistleblowers in Lithuania who have provided valuable information to FinTelegram about scams, cybercrime, and money-laundering are being massively threatened. We are here to help and support them!

December 27, 2020

Jeton Review Update – The Gambling Payment Processor and its Cyprus-Turkish reseller network

In our review of the Jeton payment platform powered by FCA-regulated entities La Orange and Financial House, we registered and tested the Jeton Wallet app. After we uploaded the required documents for verification, it took just under 10 days for the verification to actually take place. To that extent, we were able to continue the review and learn more about functionality and the Jeton environment. Here's the update on that.

December 20, 2020

AML: Another Chief Compliance Officer departs from GlobalNetInt

Lithuanian GlobalNetInt has had an audit from the Bank of Lithuania in recent months. The company focused on high-risk clientele appears to have compliance, KYC, and AML issues. Among the clients are many forex and crypto firms as well as payment processors associated with and/or facilitating scams. The problems with compliance were also confirmed to us by a consultant. Now the Chief Compliance Officer (CCO) is also said to have left the company.

December 11, 2020

EFRI Campaign – scam victim sues CySEC-regulated Maxigrid for damages

The Maxigrid Case is about the activities of the CySEC-regulated investment company (CIF) Maxigrid Ltd in connection with the broker scams RoyalsFX and LincolnFX. The company has processed payments from victims of these scams through its crypto platform BitandBuy as well as through its bank accounts with the Lithuanian GlobalNetint (GNI). While BitandBuy vanished and GNI closed the accounts a scam victim is now suing Maxigrid with the support of EFRI for compensation for the loss.

November 6, 2020

Law and Tax Enforcement Actions – Start with Payment Processors to chase cybercriminals

FinTelegram is frequently contacted by law enforcement agencies in various jurisdictions with requests for information. It has become known in the international law enforcement scene that FinTelegram has indeed valuable information and contacts. In our respective discussions, we recommend starting enforcement actions against facilitating payment processors. They are the backbone and payment data hubs of the ever-expanding cybercrime universe and its scams.