Tag: MNI

Follow the money – Global Markets scam proceeds laundered via GlobalNetInt

Illegal Broker Activities tamir - March 26, 2021

We have recently reported on the GlobalMarkets (a/k/a Glob Markets) broker scam, which has been highly active over the last few years but seems to be disappearing. The scam was operated under various domains by Cubic Services Ltd, Seychelles. Numerous regulators have warned against the scam and the operator since 2019. Despite these public warnings, how could the scam still steal customer funds? If you follow the money trail, you again end up with MoneyNetint Group (MNI) and its GlobalNetInt (GNI) in Lithuania.

High-Risk payment processor MoneyNetint goes Brazil with RippleNet

Fintech tamir - March 21, 2021

MoneyNetint, the FCA-regulated Israeli e-Money institution around Yishay Trif and Raphael Golan, announced a new payment service for merchants doing business with Brazil. Together with Banco Rendimento in Sao Paulo, a clearing system based on the RippleNet blockchain is to be launched. This is intended to enable payments to Brazilian companies and individuals to be made without friction and at low cost. The system is compatible with the Brazilian instant payment system PIX, MoneyNetint claims in its blog post.

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