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Tag: iPayTotal

April 8, 2021

The GlobalCFD broker scam and its payment processors

The Italian regulator Consob ordered the blackout of the then GlobalCFD broker scam website in Feb 2021 www.globalcfd.co. A few days ago, the regulator also blocked the scam's new domain www.globalfxcfd.com. The scam is allegedly operated by GlobalCFD Ltd and D&D Venture Project Ltd via the Marshall Islands. As payment processors, we have once again found a few of the usual suspects. Among them the iPayTotal and the crypto payment processors Itez and WE4BTC.

March 29, 2021

Daily Affiliate Warning – FXOffers fishing for victims for Investingstate broker scam

Currenlty, the fraudulent affiliate site FXOffers, promotes the broker scam Investingstate, a broker scam operated by Wooko Global Ltd, registered on the Marshall Islands. As payment processors of the scam, we have discovered iPayTotal, PayTechNo, and CryptoPayIn, operated by the licensed Estonian Navasu OÜ. The very same scammers operate Investingstate as the Broker Unity a/k/a BrokerUnity (www.brokerunity.com) and Interactive Trade (www.interactivetrade.com) scams.

March 28, 2021

Investor Warning – Illegal broker ChamberFX with payment facilitator iPayTotal

We have recently received several complaints from victims of the ChamberFX (www.chamberfx.com) broker scam. According to its website, the scam is allegedly operated by Chamber (Holdings) Pty Ltd in Australia, which has a license from ASCI for Australia. We doubt that this company is actually the operator of ChamberFX but rather a clone. In the terms, UK is stated as applicable law, where this clone might be operated. As a payment processor, we have discovered iPayTotal,.

March 23, 2021

Investor Warning – Bitcoin System scheme with Finotive and Finexics broker scams

The fraudulent affiliate campaign Bitcoin System led us today to the broker scam Finotive (www.finotive.net), supposedly operated by Harmonte Group LLC, registered in St. Vincent & the Grenadines. In our scam review, we met old acquaintances. Once again, PayBox (cashier.boxipay.io) was in action as the cashier. As scam-facilitating payment processors, we also discovered the usual suspects. Once again, we exposed iPayTotal, GumBallPay, PayNetEasy, PayTechno, and PayCent.

March 17, 2021

Investor warning against Capital Holdings broker scam with Way 2 Freedom affiliate scheme

FinTelegram is registered with scams and their affiliate schemes through various email addresses. Therefore, several times a day, we receive emails from constantly new email addresses suggesting investment opportunities without risk with high returns. One of these email senders is the Way 2 Freedom affiliate scheme, which today is feeding victims to the broker scam Capital Holdings, supposedly operated by SNT Agensy World Ltd in the Marshall Islands with iPayTotal, the Estonian Paytechno, and Spanisch Ceca as the facilitating payment processors. Please do not fall for it.

March 12, 2021

Breading News – high-risk payment processor OctaPay vanished with the client money

It's not really a surprise. On the contrary, industry insiders expected it. OctaPay, the high-risk payment processor launched just a few months ago, has disappeared with its high-risk clients' funds. Its websites are offline, as are LinkedIn profiles such as those of CEO Madhumita Singh. According to UK Companies House, she also resigned as a director of OctaPay Limited on March 11, 2021, and is no longer the beneficial owner. She is, however, still a director of PSP Technology Limited and PSP Network Limited.

Illegal Broker Activities

March 4, 2021

Investor Warning – Crystal Ball Markets is most likely a scam

The unregulated offshore broker Crystal Ball Markets (www.crystalballmarkets.com) is allegedly operated through a legal entity with registration number 262 LLC 2020 in St Vincent and the Grenadines. The only employee we found on LinkedIn is Naina Sharma in Uttar Pradesh, India. However, the profile does not look real. The broker is currently very active on Instagram, Twitter, and Facebook and evidently tries to build up credibility. We found iPayTotal, PayStruct, Perfect Money, and Euro Pacific Intl. Bank Inc. as payment processors. The broker, of course, accepts crypto.

High-risk payment processors

March 4, 2021

iPayTotal – PR campaign with fake people and fake LinkedIn accounts

Given the UK insolvency and the many negative reports, iPayTotal has run a massive PR campaign in recent weeks. Nice-looking people try to polish the image of the disgraced high-risk payment processor in the best possible way. Among these actors is Sen Kugan, the president of iPayTotal and a real person, and Jason Smith, a fake person who does not exist. A few weeks ago, we wanted to know who Jason Smith is and if he even exists. A whistleblower explained that this was one of several fake persons who also worked through fake LinkedIn profiles.

February 10, 2021

Investor Alert – Broker Scam Financial Resident and their payment facilitators

With Financial Resident, our whistleblowers have uncovered another broker scam that is currently active. We did not find any legal entity claiming to be the scam operator in our quick initial research. This is also basically worthless information as these are typically front companies in offshore jurisdictions such as the British Virgin Islands, Marshall Islands, or St. Virgin & the Grenadines. On the other hand, we have discovered several payment processors such as iPayTotal, GumBallPay, and some others. Investors should stay far away from the Financial Resident scam and report information.

February 10, 2021

iPayTotal cooperates with FCA-regulated Global Payments to facilitate scams

In our research on the Financial Resident broker scam, we identified iPayTotal as one of the payment facilitators. However, when processing deposits via iPayTotal, visitors are redirected to Global Payments (www.globalpay.com), a payment processor licensed by the UK FCA. iPayTotal is one of the most notorious high-payment processors in the scammer scene. Many scammers complain that they were ripped off by iPayTotal and that funds were not transferred to them anymore. In this respect, the cooperation with a regulated FCA entity is somewhat surprising.

February 4, 2021

Austrian FMA warns against FXOptex Groups scam with iPayTotal, OctaPay, and GumBallPay

FMA issued an investor warning against the broker scam FXOptex Groups which FXOptexGroups Global Ltd operates. Further details about persons or companies cannot be found. The website only mentions that the company operates under the laws of Cyprus. However, you can find the usual suspects below the scam-facilitating payment processors like iPayTotal, OctaPay, or GumBallPay. In addition, we have also found ShefaPay and the Estonian Itez.

January 25, 2021

The iPayTotal Case – Insolvency, fact-based allegations, and alleged defamation

it is always somewhat challenging to expose scam-facilitating high-risk payment processors (HRPP). They tend to send lawyers to claim defamation. Sure, these HRPPs make enough money for good lawyers with their high-risk business practices. Well, challenge accepted. The UK-Indian HRRP iPayTotal also feels defamed by FinTelegram's reports and wants them offline. Purportedly, we did not name or explain the sources. Well, here is a summary of the fact-based allegations.