Tag: Praxis Cashier System

High-risk payment processor PraxisT
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April 14, 2022

The new clothes of the Cypriot-Israeli payment processor Praxis

Until recently Praxis was active as Praxis Cashier which was operated by Praxis Cashier System Ltd. The old website is still online but the business is carried out now with the trading names Praxis and Praxis Tech and Praxis Tech Ltd. The beneficial owner of the notorious high-risk processor and scam facilitator is Israeli Amit Klatchko. Praxis is a VISA-certified Merchant Servicer and Third-Party Servicer. Over the last few years, we have discovered Praxis as a facilitator in dozens of broker scams.
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Paytah Crypto1 and Praxis Cashier facilitated Infinitytrade scamM
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September 5, 2021

More victim complaints against the Infinitrade scam and Paytah

In May 2020, the UK FCA issued an investor warning against the Infinitrade (www.infinitrade.com and www.infinitrade.io) broker scam, operated by offshore entity A&E Products Ltd. The scam has been facilitated by payment processors Phoenix Payments Ltd d/b/a Paytah, and Finligue Grupp OÜ d/b/a Crypto1. The Maltese regulator MFSA has received complaints from victims about Paytah and its scam clients. Despite FCA's warning, PayTah and Crypto1 have continued to support the Infinitrade scam.
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CurrentDesk and PraxisCashier cooperateP
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December 19, 2020

Praxis Cashier plans to help brokers to raise client-victims deposits up to 20%

An estimated 6-7 out of 10 broker scams use Amit Klatchko's unregulated Praxis Cashier Systems Ltd (d/b/a Praxis Cashier) as a payment processor to process customer deposits. This gives Praxis Cashier the leading market position in the scam segment. With the integration of the broker CurrentDesk, Praxis Cashier aims to be able to increase deposits from "traders" (aka victims) by up to 20% again. This is totally bad news!
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BlueSave broker scam receives FCA warningI
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July 22, 2020

Investor Warning: BlueSave broker scam and its payment processors

It appears that the brands belonging to the PumaTS Scam Broker Network are currently very high on the priority list of the financial market regulators across the EU. The FCA issued another investor warning against the PumaTS BlueSave operating under the domain www.bluesave.io. And once again, a company registered in St. Vincent and the Grenadines is the scam operator. Cyprus Praxis Pay, Estionan Tinkbit, and Russian 4bill are the facilitating payment processors.
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