Portrades | FinTelegram News

Tag: Portrades

August 27, 2023

Urgent Warning. The Portrades Broker Scam Still Attacks Consumers in Europe And North America!

FinTelegram has already issued a warning against Portrades broker scam in January 2023. The scam is still operating with various domains and is operated through the offshore company Signix Ltd in the Marshall Islands. Bulgarian companies Luko Solutions and Tera Solutions are payment processors for the victims' credit/debit card payments. Stay far away and protect your financial health.

Illegal Broker Activities

June 30, 2023

Broker Scam Portrades Vanished With The Victims’ Funds!

In January 2023, FinTelegram warned against the broker scam Portrades, operated through Bulgarian boiler rooms and the offshore entity Signix Ltd, registered in the Marshall Islands. Bulgarian Tera Solutions was the payment agent. As a payment facilitator, we have once again discovered ShinePays, which processes victims' credit/debit card deposits. We hear that Portrades vanished with the victims' money, and they did not pay their affiliates.

High-risk payment processors

January 8, 2023

Whistleblower Request: Anonymous Payment Gateway Operator ShinePays

Most recently, we uncovered the anonymously operating payment gateway ShinePays in the Portrades broker scam. However, in recent years, we have discovered ShinePays as a facilitating payment gateway in many other broker scams. There is no official website. We suspect that the gateway is associated with another payment processor. It connects to the high-risk payment processor and merchant service provider Pacific Pay. We would like to know more about the background of ShinePays.

Paxum Bank: The Offshore Bank for the Porn Industry!

Paxum Bank, an offshore financial institution based in Dominica, has found itself at the center of controversy due to its connections with high-risk industries and recent revelations about its relationship with the embattled Tate brothers. Specializing in serving the adult entertainment sector, the bank has become a key player in providing financial services to businesses often shunned by traditional banks. However, this niche focus has also drawn scrutiny from regulators and investigators.

Tate Brothers Case: The Misogynist Influencers Used Offshore Accounts to Launder Proceeds from Sexual Exploitation!

New evidence suggests that the influencer Andrew Tate and his brother Tristan Tate used offshore accounts, including Paxum Bank, to conceal profits from their controversial webcam business. The Tates are facing serious charges, including human trafficking and money laundering. This case highlights the need for robust AML/KYC practices, particularly for payment processors in high-risk sectors like adult entertainment.

UK FCA Charges First Individual for Operating Illegal Crypto ATM Network for Money Laundering!

The UK Financial Conduct Authority (FCA) has charged London-based Olumide Osunkoya with running an illegal crypto ATM network, marking the first case of its kind in the UK. As crypto ATMs are increasingly used for money laundering, the FCA's crackdown on unregistered operators underscores the need for strict regulatory compliance. The ATM scheme allegedly processed £2.6 million in crypto transactions.

Public-Listed Crypto Exchange Coinbase Has to Face Shareholder Lawsuit Over SEC Risks!

U.S. crypto exchange Coinbase must face a shareholder lawsuit accusing it of downplaying regulatory risks, specifically the chances of being sued by the SEC. While a U.S. judge dismissed parts of the case, the key allegation of misrepresenting regulatory risks will proceed. This case underscores the importance of transparency in the crypto sector, where regulatory uncertainties continue to loom large, particularly in the U.S.

U.S. Regulator SEC Charges Seven Public Companies for Violating Whistleblower Protection Rules!

The U.S. Securities and Exchange Commission (SEC) charged seven public U.S. companies with using agreements that restricted employees from reporting securities law violations, resulting in over $3 million in penalties. The SEC takes strict action against organizations and individuals who seek to contractually restrict whistleblowers' rights. The regulator needs insiders to disclose financial wrongdoing and compliance violations.