Tag: PayVision

ING and Payvision prosecuted for alleged money launderingB
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November 4, 2022

Blame Game: ING CEO Calls Payvision A Mistake And Envisages Settlement!

In a recent press conference, ING CEO Steven van Rijswijk referred to the Payvision money laundering case. He said that the bank is not concerned about a possible settlement. "We have a strong capital position," Van Rijswijk said. He was open about the mistakes made when the fintech company was bought in 2018. "Obviously, that deal hasn't been a success," he said lightly. A few days ago, Payvision founder Rudolf Booker blamed ING for the Payvision collapse.
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ING and Payvision prosecuted for alleged money launderingN
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November 2, 2022

New Allegations Against Payvision Founder Rudolf Booker, Who Sees A Witch Hunt!

Since the money-laundering prosecution of Payvision and its founders became known, the Dutch media has been intensively interested in the founder Rudolf Booker but also in the role of ING. In an interview with Financieele Dagblad, Rudolf Booker sees a witch hunt against him. The authorities are investigating whether ING paid an inflated purchase price for Payvision. Booker indignantly rejects all accusations and points to ING.
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ING and Payvision prosecuted for alleged money launderingU
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October 30, 2022

Under Fire! Dutch Banking Giant ING Publicly Questioned For Its Disgraced Subsidiary Payvision!

In an open letter, the Dutch Investors' association VEB has asked ING to clarify the criminal case pending against its subsidiary Payvision. FinTelegram reported that this high-risk payment processor, founded by Rudolf Booker, was taken over by ING in 2018 despite its involvement in money laundering and cybercrime facilitation. The Dutch regulator DNB investigated the 2015 to 2020 timeframe at Payvision and filed a complaint with FIOD.
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Whistleblower ProgramF
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October 17, 2022

FinTelegram, Regulatory Awakening Calls, And The Lessons Learnt!

In April 2020, the Bank of Lithuania, as the competent regulator, revoked the license of Eyal Nachum's Israeli e-money institution Bruc Bond (formerly Moneta International). The revocation was preceded by numerous FinTelegram reports exposing the payment processor's scam-facilitating activities. In October 2020, the Dutch regulator DNB submitted a Payvision report, in which the allegations raised by FinTelegram were apparently confirmed, as the Dutch financial magazine FD notes.
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Payvision accused of financial crimeT
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October 16, 2022

The Payvision Financial Crime Scene Unfolds By The Minute!

The Dutch authorities and media now target ING and its subsidiary Payvision. The financial newspaper FD yesterday published another report about the investigation of the Dutch regulator DNB and the alleged financial criminal activities of Payvision. Its CEO Rudolf Booker is said to have personally given instructions to work with scammers such as Gal Barak and Uwe Lenhoff. Payvision executive Andre Valkenburg recently lied in court filings and claimed he would know of no investigations.
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Payvision Amsterdam headquartersI
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October 15, 2022

ING Issues Statement Related To The Criminal Investigations Of Payvision

Dutch FD and FinTelegram recently reported on the FIOD's investigation of ING subsidiary Payvision. A report by the Dutch regulator DNB accuses Payvision of violating regulatory requirements and financial laws to prevent money laundering and terrorist financing and supporting cybercrime activities. Suspects besides Payvision include former directors Rudolf Booker and Cheng-Lim Li. ING issued the following statement, saying essentially that they worked hard to improve Payvision's risk systems.
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Background information on the OptionsXO binary options trialB
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October 15, 2022

Breaking: Payvision And Rudolf Booker Prosecuted For Alleged Financial Crime Facilitation!

According to a report by De Nederlandsche Bank (DNB), criminal investigations have been launched against Payvision, the Dutch media outlet FD reports. The Amsterdam-based ING subsidiary allegedly deliberately neglected money laundering controls for years. The Dutch regulator DNB reportedly warned ING about the deficiencies several times but saw little improvement. According to FD research, Payvision, Rudolf Booker, and Cheng Li are the suspects in this criminal case.
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T1 Payments timeline with PayvisionH
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October 10, 2022

How T1 Payments And Payvision Engineered Their U.S. High-Risk Business!

T1 Payments LLC was a VISA- and Mastercard-registered Payment Facilitator (PAYFAC) until 2017 in the U.S. and had a contract with WorldPay (then dba Vantiv). This industry-leading payment processor processed more than 20 billion transactions per year at the time. In March 2017, Vantiv filed a fraud complaint in the U.S. against T1 Payments. The latter subsequently had to process its U.S. customers through Payvision up to at least the summer of 2021. However, the Dutch payment processor was not authorized to operate in the U.S. Thus, they engineered a special solution.
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EFRI invstors protection servicesT
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October 6, 2022

The Alleged U.S. High-Risk Payment Fraud Scheme Of T1 Payments And ING Subsidiary Payvision!

ING subsidiary Payvision was a super-aggressive high-risk payment processor that did not shy away from facilitating cybercrime activities until it was shut down in October 2021. Founded by Rudolf Booker in Amsterdam, the FinTech has worked with Donald Kasdon's high-risk processor, T1 Payments, in the United States. Payvision and T1 Payments worked out a system that allowed Payvision to hide behind Donald Kasdon's group of companies. In the U.S., former customers (merchants) brought fraud lawsuits. Let's unfold the story!
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High-risk payment processor Fibonatix of Tal MillerU
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September 30, 2022

Update On High-Risk Payment Processor Fibonatix

Fibonatix, founded by the Israeli Tal Miller, is an Israeli high-risk payment processor and used to be a notorious scam facilitator. It was one of the payment processors of Gal Barak's cybercrime organization E&G Bulgaria. In his trial, Barak confirmed that in addition to Payvision, Fibonatix was laundering the stolen funds. Since 2018, Fibonatix has been an FCA-regulated payment institution and opened offices in Berlin last year to focus on the DACH region!
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US trial against Serbian boiler room operators and binary options fraudstersU
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September 26, 2022

U.S. Court Cases: Payvision Director Andre Valkenburg Under Legal Fire!

The Dutch Andre Valkenburg became Payvision CEO as of 1.5.2020 after the founders and directors Rudolf Booker, Gijs van de Weegh, and Cheng Liem Chi resigned after the company was acquired by ING in 2018. According to (checked) information available to FinTelegram, he is still the managing director of Payvision, which ING ordered to go out of business. According to some US lawsuits, he is also said to have continued Payvision's high-risk business during his CEO tenure.
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The Payvision story in a videoT
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September 24, 2022

The Payvision Case Continues With Lawsuits!

ING subsidiary Payvision was one of the largest payment processors of fraudulent binary options providers between 2014 and 2019. Founded by Rudolf Booker shortly after the turn of the millennium, Payvision processed victims' deposits for the major scam networks of Gal Barak and Uwe Lenhoff. According to the aggrieved victims, Payvision laundered money for their scam clients with full knowledge of their criminal nature. Therefore, some scam victims now want to file lawsuits against Payvision. Here is the Payvision Case video.
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