FinTelegram has recently published reviews of the promising FinTechs BigWallet and Caspero after our people have been working on these (and other) FinTechs for weeks. Read the Caspero Review here and the BitWallet Review here. Things with these heavily-promoted FinTechs are not getting better, it turns out.
Posts tagged as “International Fintech”
In the course of our FinTech Review series, we looked at the Lithauische Caspero. The company belongs to the FinTech Group of the Israelis Eyal Nachum and Tamir Zoltovski. On the website of Caspero, it is stated that the company acts as an authorized agent of International Fintech UAB licensed by the Bank of Lithuania. Also on the website, one is invited to join the millions who allegedly already use Caspero.
In June 2019, Allied Wallet Inc and its beneficial owner Ahmad "Andy" Khawaja settled a complaint with the U.S. Federal Trade Commission (FTC). Allied Wallet, Ahmad Khawaja, its chief operating officer, Mohammad Diab, and its former vice president of operations, Amy Rountree, agreed to settle the FTC complaint that it knowingly processed payments for businesses that were committing fraud. Khawaja apparently unfolded fintech activities in Lithuania.
The team of the European Funds Recovery Initiative (EFRI) co-founded by FinTelegram, together with its lawyers, has decided that in future financial service providers involved in scams will be reported to the respective financial market supervisory authority. The fact is that fintech start-ups, in particular, are making themselves easily available as payment service providers (PSP) for scams without major hurdles.
The authorities in some European countries have been investigating for months in the matter of binary options scams from KontoFX and related scams such as KayaFX and StoxMarket. FinTelegram has received confirmation that the investigations will also be coordinated via Europol. The European Funds Recovery Initiative (EFRI) co-founded by FinTelegram has also been collecting reports from victims of these scams for months. EFRI regularly sends reports to the competent authorities.