Tag: Joseph Olatilewa Jaiyeola

The Russian-controlled high-risk payment processor Payeer has been on our radar since 2021. Since then, the operating companies behind the payment facilitator have changed several times. We have also discovered Payeer to be a facilitator of scams during this time. Currently, Payeer is one of the payment facilitators for the (interconnected) offshore broker schemes Pocket Option and PO Trade, alongside Advcash and Perfect Money. Here is our latest update.

Over the last 3 years, FinTelegram exposed the Russian-controlled crypto payment processor Payeer as a payment processor for various broker scams. In January 2023, the Estonian FIU considered the revocation of Payeer's crypto license due to identified deficiencies. However, Payeer decided to renounce their license voluntarily and registered crypto service provider in Lithuania. We found more information about the related individuals and company history.

We have been following the activities of the high-risk payment processor Payeer for several years now. Payeer is operated through Payeer OÜ, which holds an Estonian crypto license, and Paycorp Limited, registered in Vanuatu by the VFSC. Most recently, we discovered Payeer as a payment processor at many Russian high-risk merchants such as Express Wallet or Taxi Money. In recent months, an average of 25% of website visitors came from Russia.

Payment processor Payeer, which operates with an Estonian crypto license, has been on our radar since 2021, having been a facilitator in various broker scams. Until June 2022, Russian Liubov Svezhentseva was officially registered as the beneficial owner and director. After our last report, new Estonian individuals were again registered as beneficial owners and directors. We may justifiably conclude that they are acting as nominees for the real owners. Here is the update.