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Tag: PayOp

High-risk payment processors

October 20, 2022

Introducing The Ukrainian Payment Processor PayOp!

PayOp is a Ukrainian high-risk payment processor operated through legal entities in Canada and Singapore. Transferop Payment Gateway Ltd is a money service business registered with FINTRAC Canada and Fintech Decision Pte. Ltd, registered with MAS. We last discovered PayOp as a payment processor in the Binarium broker scam (report here). According to the latest Similarweb statistics, PayOp receives the most traffic from gambling sites.

March 13, 2022

Urgent warning! Russian Binarium scam brokers still hunting Western consumers!

Amid the Ukraine War, the Russian Binarium broker scam continues its attacks. Legal entities in Cyprus and St. Vincent & the Grenadines operate the scam targeting consumers in Europe, North America, and Asia. In Dec 2021, the Italian Consob ordered the blackout of Binarium's websites for Italian consumers. The boiler rooms operate with Russian phone numbers and are located in Russia, Latvia, and Ukraine. The scam works with Russian payment processors and cryptocurrencies. Stay far away!

Illegal Broker Activities

February 5, 2022

Unregulated Russian scam broker Binarium and its network of companies and domains!

Binarium is an unregulated Russian broker operating outside Russia through legal entities in Cyprus and St. Vincent and the Grenadines, targeting consumers in Europe, North America and Asia. The Italian Consob ordered the blackout of Binarium's websites for Italian consumers. The boiler rooms operate with a Russian phone number and are located in Russia, Latvia and Ukraine. The Russian site can be reached through the domain www.binarlum.co

Circle Joins U.S.-Led Initiative to Combat Illicit Finance in Virtual Assets!

Erik Rosenblatt, a senior leader at US stablecoin issuer Circle, will represent the company on the Illicit Virtual Asset Network (IVAN) board. Prior to joining Circle, Rosenblatt spent over two decades as a special agent with the U.S. Department of Homeland Security and the U.S. Department of the Treasury. As part of IVAN, Circle will have a voting role in determining the network's priorities and membership.

Evil Corp: A Comprehensive Report on Russia’s Family-Driven Cybercriminal Organization!

The U.S. Department of Justice and Department of Treasury have taken significant action against Evil Corp, a Russia-based cybercriminal group responsible for developing and distributing malware that has stolen over $100 million from banks and financial institutions across 40 countries. Evil Corp appears to operate as a family enterprise, with multiple family members involved.

Good News For Crypto: SEC Enforcement Director Gurbir S. Grewal Steps Down After Impactful Tenure!

The U.S. Securities and Exchange Commission (SEC) is set to experience a significant leadership change as Enforcement Director Gurbir S. Grewal announces his departure. Grewal oversaw a period of heightened regulatory activity specifically targeting the crypto sector. Under his leadership, the SEC Filed high-profile lawsuits against major cryptocurrency exchanges, including Binance and Coinbase.

U.S. DOJ Indicted Russian Hacker and Evil Corp Member Aleksandr Viktorovich Ryzhenkov!

The U.S. DOJ unsealed an indictment charging Russian national Aleksandr Viktorovich Ryzhenkov with using the BitPaymer ransomware variant to attack numerous victims in Texas and throughout the U.S. and hold their sensitive data for ransom. According to the indictment, beginning in at least June 2017, Ryzhenkov allegedly gained unauthorized access to the information stored on victims’ computer networks.

Starling Bank Slammed with £29M Fine for ‘Shockingly Lax’ AML Controls, Exposing UK Financial System to Criminals!

The UK neobank Starling Bank has been fined £29 million by the UK FCA for opening accounts for high-risk customers and failing to screen against full sanctions lists. Its rapid expansion outpaced its compliance measures, leaving significant gaps in its AML framework. Starling grew from approximately 43,000 customers in 2017 to 3.6 million in 2023. However, measures to tackle financial crime did not keep pace with its growth.