Tag: MoneyNetInt

Update on MoneyNetInt and PayswixU
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August 21, 2023

Update: Scam-Facilitating Payment Processors MoneyNetInt and Payswix!

FCA-regulated EMI MoneyNetInt was one of the big payment processors for the fraudulent binary options industry that defrauded hundreds of thousands of people out of tens of billions of dollars between 2010 and 2018. We exposed Israeli-controlled MoneyNetInt and its affiliated GlobalNetInt as payment facilitators in many scams. Consequently, in June 2021, the FCA announced that MoneyNetInt voluntarily stopped acquiring new customers temporarily in June 2021.
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Deutsche Handelsbank under fire for scam faciliationD
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November 30, 2022

Deutsche Handelsbank Under Fire For Its Scam Facilitation & Money Laundering Activities!

In the summer of 2020, a Munich court issued a garnishment order to seize the bank accounts of CySEC-regulated Hoch Capital Ltd (file number 1539 M 46463/20). One of the payment processors involved was Deutsche Handelsbank, a notorious scam facilitator. As ordered, Deutsche Handelsbank submitted the data to the court and froze the Hoch Capital Ltd account, which held over €909,000. The company and its individuals are under investigation by German prosecutors on suspicion of investment fraud.
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MoneyNetInt and Payswix and their troubled pastQ
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November 27, 2022

Quo Vadis, MoneyNetInt? The Latest Update On A Legendary Binary Options Payment Processor!

The FCA-regulated e-money institution MoneyNetInt had its best time during the binary options hype. Most of the binary options scheme providers were Israelis, and, as it turns out, almost all of them were scam schemes. Many of them were clients of MoneyNetInt, such as IC Option, TitanTrade, or the schemes of Uwe Lenhoff and Gal Barak. As of 2017, binary options were banned in most regulatory regimes. Since then, MoneyNetInt's business might not be doing so well either, as their latest figures suggest. Here is an update.
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SEPAGA facilitated broker scamsC
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September 16, 2022

Criminal Files Show Involvement Of Cyprus Sepaga In Broker Scam Networks.

A victim has provided documents to FinTelegram that are included in the criminal files surrounding the Broker scams GetFinancial, o4trade, Fivecircles, and others. Authorities have traced the money from victims to ultimate recipients over and have also discovered the facilitating payment processors. Besides the notorious illegal German payment processors like SecurePort GmbH, they also found advCash, MoneyNetInt, DIXIPAY, and the regulated Cypriot e-Money Institute SEPAGA E.M.I. Limited.
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High-Risk payment processor Total Processing recruits dismissed Klarna employeesW
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May 27, 2022

While The FinTech Sector Goes South, High-Risk Payment Processors Are Still Bullish!

If we were to look back in a year or two, we might find that the last week of May 2022 manifested the trend toward the entire tech sector's crisis, especially in the FinTech sector, which saw a C19 Pandemic-boosted hype before that. FinTech unicorns like Klarna or Bolt announced massive layoffs. Online payment pioneer PayPal as well. In contrast, the high-risk payment segment still seems to be booming. Alex Leigh, the co-founder of Total Processing, has made a job offer to the terminated Klarna people via a LinkedIn post.
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MoneyNetInt and GlobalNetInt group of companiesA
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March 23, 2022

Attention! Regulated high-risk payment processor GlobalNetInt is now payswix!

In June 2021, the Lithuanian-Israeli e-Money Institution GlobalNetInt (GNI), related to the FCA-regulated MoneyNetint Group, was penalized by the Bank of Lithuania for its violations of anti-money laundering and terrorist activities financing rules. GNI has to pay €350,000 because it did not properly assess the risk posed by customers and did not always ensure that customer identification remotely complied with legal requirements. GNI has been a notorious scam facilitator and is now doing business as payswix.
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January 17, 2022

Exposed! FCA-regulated MoneyNetInt involved in big-style money-laundering!

The trial against the ringleaders of the cybercrime organization E&G Bulgaria is currently underway in Munich, Germany. Gal Barak was already sentenced to four years in jail in Vienna in Sept 2020. Almost unnoticed, the preparation of charges against several ringleaders of the cybercrime organization around the late Uwe Lenhoff and the Veltyco Group is currently underway in Saarbrücken. Criminal records show that MoneyNetInt was massively involved in Lenhoff's money laundering.
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German prosecutors charge P2P with money launderingM
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December 21, 2021

Money-laundering – Bank of Lithuania fined high-risk payment processor Wallter €280,000

The Bank of Lithuania (BoL) fined the e-money institution Wallter UAB €280,000 for violating the Lithuania Law on the Prevention of Money Laundering and Terrorist Financing. Moreover, the regulator imposed additional obligations on Wallter. The institution, regulated by BoW under the authorization code LB000450 has to eliminate all violations and shortcomings until 31 March 2022. Many of Lithuania's EMIs operate in the high-risk sector and are notorious for their very relaxed approach to money laundering and cybercrime.  
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Deutsche Handelsbank allegedly terminates dirty payment businessN
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July 2, 2021

Notorious scam-facilitator Deutsche Handelsbank about to close down payment business

The notoriously well-known Deutsche Handelsbank has been in the FinTelegram focus over the last three years. Like ING's Dutch subsidiary Payvision and, until its collapse, Wirecard, the bank was a prime address for scammers and cybercrime organizations. Uwe Lenhoff, who died in prison in 2020, was one of the clients of Deutsche Handelsbank and used the bank to launder the illicit proceeds of his huge lotto scam LottoPalace. Now the German financial institution seems to be about to its dirty payment division.
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Wirecard with Senjo Group and Finolita UnioW
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May 17, 2021

Wirecard, Finolita Unio, and the Lithuanian Connection

In our researches on scam-facilitating payment processors, Finolita Unio UAB, regulated by the Bank of Lithuania with authorization code LB000490, came to our attention only once as a payment facilitator in the GlobalSpotFX scam with the Estonian Woodstock OÜ (report here). The Financial Times reports that Finolita Unio is part of Senjo Group, a former Wirecard partner through which hundreds of millions have flowed and vanished. More than €100M have been processed through its Lithuanian subsidiary.
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Xtrabit of Vlad Kogan was a huge money laundering machineW
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April 9, 2021

Wanted for restitution payments – Payment processor XTrabit and Vlad Kogan

For FinTelegram readers, it is certainly no secret that we are hunting scam-supporting payment processors. These payment processors are even worse than the scams themselves. Scams come and go while payment processors stay and support new scams all the time. They know the scammers and where the money goes. They facilitate these scammers in defrauding ever-new victims. One of these evil payment processors is Russian-born Australian Vladislav "Vlad" Kogan. He has laundered hundreds of millions for dozens of scams with his Czech registered Xtrabit s.r.o.
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