As reported previously, the Lithuanian Financial Crime Investigation Service (FCIS) has imposed a record fine on the payment processor Payeer, totaling nearly €9.3 million, for significant breaches of international sanctions and anti-money laundering (AML) regulations. This development corroborates FinTelegram's previous investigations into Payeer's Russian connections and its role in laundering money for scammers, further solidifying FinTelegram's reputation as a leading financial intelligence provider.
Russian Sergey Mayzus is a notorious entrepreneur in high-risk payment and online trading. He founded the now CySEC-regulated broker InstaForex in Russia in 2007, which has had many regulatory problems. The UK FCA revoked his Mayzus Financial Services Ltd license as a payment processor in 2018. Mazyos was allegedly involved in Alexander Vinnik's Russian collapsed crypto exchange BTC-e as a payment processor. Mayzus seems to have legal issues in the Czech Republic.
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.