Tag: Payotop

The problem with financial market regulators' warnings is that they usually come too late. Usually, their warnings are issued only after many investors have complained. Thus, scammers defraud consumers undisturbed for many months. This is also the case with CiscoTrades (www.ciscotrades.com). The broker scam has been active for several months, and only today the CNMV issued a warning. The scam is apparently already disappearing again. As a payment processor, we have once again discovered the Estonian BitTheBank.

In September 2020, the UK FCA issued a warning against the scam broker TradingTeck (www.tradingteck.com and www.tradingteck.co). We reported here! The broker is a brand of SecVision Limited, allegedly registered in St. Vincent and the Grenadines. The South African EFTpay (www.eftpay.co.za) is available as a payment option.

The website Bst Offers (https://bst-offers.com) belongs to a fraudulent affiliate scheme. When registering there you will be routed through different intermediate sites to broker scams like SolidStocks, Triton Capital Markets, or AlgoBlox. These are typical white label broker scams where we discovered the Piastrix, Payotop, and Praxis Cashier as payment facilitators. These affiliate systems are an essential part of scam ecospheres to acquire new victims for the scams. They are scammers themselves.