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Tag: KayaFX

May 15, 2021

European law enforcement action crushed Tradorax, KayaFX, and LibraMarkets scam network

The German law enforcement team in Koblenz, together with Europol and Eurojust and the support of their fellow agencies in Spain, Bulgaria, and Israel, evidently crushed the cybercrime network related to Tradorax, KayaFX, and LibraMarkets. Europol reported the action but remained silent about the targets. FinTelegram learned that the targets had been the boiler rooms, illegal payment processors, and beneficial owners connected to this cybercrime network.

April 14, 2021

KayaFX legacy – amidst law enforcement actions websites went offline

The KayaFX broker scam was one of the biggest scam brands in Europe in the binary options era. Tens of thousands of victims probably lost tens of millions of euros to the scam. Among them were many Spanish victims. Hence, Spanish law enforcement authorities have been investigating KayaFX, related brands such as WDC Markets, GrandeFX, Grandefex, Libra Markets, the involved boiler rooms, and facilitating payment processors since as early as 2018. Recently, most of the websites went offline amidst law enforcement action in different jurisdictions.

June 10, 2020

Investor Warning – German BaFin issued Cease and Desist Order against notorious Estonian-Israeli Scam Operator!

On 8 June 2020, the German regulator BaFin has issued a Cease and Desist Order against Estonian Yield Enterprise Currency Software OÜ and requested it to immediately stop the operation of the broker scam ProuFX (www.proufx.com). Until a few months ago this scam was called UProFX. A slight change of letters and a new scam starts, simple, isn't it?

March 4, 2020

German Handelsblatt published a new report on Wirecard and the EFRI money-laundering complaint

Felix Holtermann and Christian Schnell of the German Handelsblatt reported on the money-laundering report filed against Wirecard by the European Funds Recovery Initiative (EFRI). In a detailed article titled "The past catches up with Wirecard" the background of the global scam industry and the respective involvement of payment processors is explained.

November 28, 2019

Breaking News – Criminal Complaints against scam broker perperators in Montenegro and Serbia

FinTelegram has received information that lawyers in Tel Aviv, Israel, and Belgrade, Serbia, on behalf of EU victims of various scams such as Option888, KayaFX,..

November 21, 2019

International Fintech UAB involved in KontoFX binary options broker scam

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..

July 1, 2019

Hermes Solution closing down in Podgorica?

Finance Magnates today published an article on the problems of Forex retail brokers with banks and payment service providers. They are freezing bank accounts and..

June 18, 2019

EFRI Update – From Tradorax via KayaFX and KontoFX to Libra Markets

FinTelegram and EFRI launched the EFRI campaign in April 2019 to recover money for defrauded investors of the broker scam KayaFX. Since then we have..

June 17, 2019

Payment Services Provider Hermes Solution exposed again in facilitating fraudulent broker schemes

In recent weeks, we have investigated the scam brokers associated with the unauthorized payment service provider (PSP) Hermes Solution Podgorica DOO. Almost every day new..

FinTelegram

June 17, 2019

The connections between Tradorax, KayaFX and KontoFX and another Marshall Islands scam can be learned tomorrow on FinTelegram News. Stay tuned.

EFRI Update: New connections between Tradorax, KayaFX and KontoFX and another Marshall Islands scam can be learned tomorrow on FinTelegram News. Stay tuned. CategoriesFinTelegramTagsEFRIKayaFXKontoFXTradorax

Watchdog

June 14, 2019

Experimental Soft-Launch – The FinTel Watchdog whistleblower platform

FinTelegram launched today the “FinTel Watchdog Platform” (www.the-watchdogs.com) in an experimental soft-launch. The goal of this whistleblower platform is to tap into the wisdom of..

April 30, 2019

EFRI Funds Recovery Campaign For KayaFX Broker Scam Launched

Together with the European Fund Recovery Initiative (EFRI) Fintelegram launched the campaign to recover investor funds from the KayaFX broker scam scheme. As part of..