Tag: NeoBanq

The high-risk processor Payomatix is one of the many payment ventures of the British-Indian Ruchi Rathor, who became sort of famous with the collapse of her iPayTotal scheme. iPayTotal vanished with their merchants' money. The scheme's UK entity went into court-ordered insolvency with creditor claims totaling about GBP 1.1M (report here). The successor brand OctaPay vanished after a few months. Nothing about that will be discussed at the Payomatix Founder Investor Networking event in November 2022.

Payomatix is a part of the high-risk payment processing empire of the notorious British-Indian Ruchi Rathor and its iPayTotal Group. Payomatix claims to be a PayTech startup revolutionizing the Indian payment industry through an innovative API platform. On LinkedIn, Payomatix is currently promoting its Founder Investor Networking Q3 event to be held in August 2022 in India. Ruchi Rathor will also be a speaker at this event. She certainly has a lot to tell!

We have already warned against the FinanceX broker scam in March 2022. Registered in October 2021 with the registration number 26491 in St. Vincent & The Grenadines, Big Box Ltd is allegedly the scam operating entity. As a scam-facilitating payment processor, we have discovered the infamous NeoBanQ. The German BaFin and the Austrian FMA issued warnings against FinanceX recently. Stay far away from this white-label scam and save yourself from losing your money in these difficult times.

Currently, the high-risk payment processor OpenUp.Finance is apparently experiencing problems. Existing and former employees have contacted FinTelegram and provided insider information. We have thus been able to confirm that the notorious British-Indian payment veteran Ruchi Rathor is one of the beneficial owners. On July 26, 2022, OpenUp announced the separation of three employees in a LinkedIn posting. Insiders also informed us about Trustpilot manipulations. Thus, employees receive a bonus of $5 if they organize positive reviews.

Kryptova Biz Ltd d/b/a Kryptova is an unregulated crypto-focused high-risk payment processor established in October 2021 by the Indian citizen Chhavi Mishra. FinTelegram has exposed Kryptova as a scam facilitating payment processor times and again. Recently, the company appointed the Panamese Manuel Jose La Serna as a Director and registered a new controlling entity - Kryptova Biz LLC on the Island of Nevis; this is where Paypound's parent company resides. We believe that the very same people control them.

Unfortunately, it is an indisputable fact that payment processors have many black sheep and scammers. Especially in the area of high-risk payment processors, many players rip off their merchants. Or support scammers to rip off victims. These bad payment processors have included collapsed iPayTotal or the related Paypound or NeoBanQ. Paypound is currently waging war against Serbian BoomBill, Paul Schroeder, and related entities. Once again, it's about millions of merchants gone missing. Amen!

FinTelegram published a warning against ErfolgreichFX in March 2022. The German BaFin announced investigations against the scam and its anonymous operators with an address in St. Vincent & The Grenadines. The scam seems set to vanish soon as some of the payment options we exposed in our initial review such as Neobanq and Paypound have already been removed. Credit and debit card deposits are processed through the anonymous FXPaymentServices. Stay far away from the scam.

Facilitating payment processors are a strategic FinTelegram focus. Without facilitating payment processors, most cybercrime activities and scams would not be possible in the first place. Many of these payment processors specialize in the dark side of online merchants and therefore operate anonymously or with fake IDs. As does NeoBanQ, which reportedly refers its merchants to Charge.Money about which nothing is known except a company in Hong Kong and a phone number in the UK. We want to learn more about Charge.Money.

We recently reported that NeoBanQ, like iPayTotal before it, tried to get out of UK Companies House via a voluntary strike-off. However, in both cases, creditors objected, and the strike-off procedure was suspended. Companies House officially lists Briton Billy Eldridge as director and beneficial owner. Evidently, he is just a monkey. Former employees have told us that the company is actually run by Ruchi Rathor and Aditya Williams and belongs to the dark iPayTotal empire, just like the dissolved and disappeared OctaPay.

It's no secret that high-risk payment processors like to disappear. Unfortunately, very often with their merchants' money. This is what happened with the Indian-British iPayTotal, which filed for a voluntary strike-off in October 2020. That was suspended over the objection of a creditor. The UK High Court of Justice subsequently ordered insolvency and liquidation. Merchants' money was long gone by then. Billy Eldridge's NeoBanQ filed a Voluntary Strike Off application in Oct 2021 which was suspended due to a creditor's objection in Nov 2021. Extreme caution is in order for Merchants.

A 5 April 2022, we reported about the broker scam CryptBull. The Spanish regulator CNMV had issued a warning...

A few days ago, we reported about the broker scam CryptBull. The Spanish regulator CNMV had issued a warning against the fraud. In our review at that time, we discovered NeoBanq, SecurePaymentGateway, and Gateway a/k/a Gateway Services as facilitating payment processors. Upon the publishing of our review, Gateway disappeared as a payment option on CryptBull. We would like to know more about what appears to be a Russian venture with obvious connections to Cyprus.