Praxis | FinTelegram News

Tag: Praxis

February 21, 2023

Expansion: Cyprus-Based PayTech Praxis Opens Office In Dubai!

The Cyprus-based paytech Praxis Tech Ltd d/b/a Praxis, founded by the Israeli Amit Klatchko, announced the opening of their new representative office, Praxis Technology LLC, in the heart of Dubai's Business Bay. According to their press release, Praxis has grown exponentially over the past few years. Thus, their new office with experienced professionals would be the next step to catering to a growing global base of clients.

PayTechs

November 4, 2022

Cyprus PayTech Praxis Announced New Features

The Cyprus-based PayTech Praxis Tech Ltd of Amit Klatchko announced new and improved features to its product offering with enhanced verification and bulk action features. The new features include a bulk action feature, an improved verification feature, multiple selections of customer profiles, and new currencies and countries added to the Praxis dashboard. Praxis also added new currencies and countries to the dashboard.

October 26, 2022

Looking Into MGA-Regulated Shark77 And Some Money-Laundering Considerations!

FinTelegram has looked at both investment and trading providers and facilitating payment processors over the past few years. The latter are the most important element for the operation of B2C services. Customers need to be able to deposit and withdraw. Very often we have found violations of regulatory requirements and AML/CFT specifications. Going forward, we also want to take a look at gambling schemes from a payment perspective, starting with MGA-regulated Shark77 Limited.

October 25, 2022

Urgent Warning Against Illegal Gambling Site RichKing Casino Facilitated By PayOp, PayDo, And Coinspaid!

Currently, the online gambling and casino site Rich King a/k/a Rich King Casino acquires customers in Germany and other countries in the EEA region. The website does not list any legal entity as its operator and does not have any license in Germany or any other EEA country that we know of. The activities of Rich King, therefore, qualify as illegal. We have discovered PayOp, PayDo, CoinsPaid, and PunRun Limited as payment facilitators. They are integrated into the Praxis payment gateway.

PayTechs

August 18, 2022

Leading Cyprus Paytech Praxis Partners With iGaming Pioneer Softswiss!

The Cyprus-based paytech Praxis Tech announced a partnership with the igaming software giant, Softswiss, which provides its clients a full-service infrastructure, including payment processing. As an omnichannel gateway provider, Praxis Tech offers Softswiss and its more than 300 clients a vast portfolio of PSPs and cashier opportunities. The partnership enables Softswiss to expand globally as the Praxis payment solutions allow it to address the requirements of different jurisdictions.

May 19, 2022

Update On Vantage Group And Its Offshore Activities!

The Vantage Group is a global, multi-asset broker headquartered in Sydney, Australia, d/b/a Vantage, VTMarkets, or Moneta Markets. The group runs several offshore entities to circumvent regulations in the UK, Europe, and other regulatory regimes. According to its latest press release, Vantage works with a global team with over 1,000 staff, spread over 30 offices located. In February 2022, Vantage signed a multi-year sponsorship deal with McLaren Racing and has become an Official Partner of the McLaren (MX) Extreme E team. Here is another update.

May 4, 2022

Urgent warning! Cyprus-controlled offshore broker NewFX still solicits European consumers

the Spanish CNMV and other EU regulators issued investor warnings against the unauthorized offshore broker NewFX. Upon our report, NewFX changed its operating entity and domain. Currently, the operator allegedly is New Finance LLC, registered in Delaware; the active domain is www.newfx.us. NewFX is connected to other offshore brokers such as DBFX or OnspotBNK and to the FCA-regulated One Financial Markets. In our new review on 3 May 2022, we found Praxis Cashier as one of the facilitating payment processors.

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.

April 14, 2022

Attention! FCA-regulated TIOmarkets continues offshore onboarding

FinTelegram has been following the offshore activities of the FCA-regulated TIO Markets for some time. The Spanish CNMV and the Italian Consob have already issued warnings against the offshore broker TIOmarkets, operated by TIO Markets Ltd in St. Vincent & The Grenadines. This offshore broker is evidently related to the FCA-regulated investment firm. TIOmarkets is chasing after new European clients via Google ad campaigns. Praxis Pay and Monsas are the payment processors.

April 8, 2022

BrokerZ and Globalix scams – 15 suspects arrested in Albania on German request!

According to Eurojust, law enforcement agents in Albania and Germany have taken down a scam broker network that defrauded victims, including many Germans, of at least several million euros. During an action day, 15 suspects were arrested and eight places were searched in Tirana, Albania. The arrested perpetrators operated boiler rooms in Albania that ran the scam broker brands BrokerZ and Globalix, which lured victims in Germany into investing in non-existent financial products that promised large benefits.

March 9, 2022

The CySEC issue! LegacyFX continues with offshore onboarding for European clients!

Offshore onboarding to circumvent ESMA and FCA guidelines is still a big issue for European regulators. Especially CySEC has had a problem with this approach for years, as FinTelegram has pointed out repeatedly. Most recently, in a new review of CYSEC-regulated FXORO, we found that the CIF continues with offshore onboarding of European retail investors systematically in violation of regulatory requirements, as does LegacyFX.

February 18, 2022

Attention! Unauthorized VT Markets and Moneta Markets still attack European consumers!

As reported already, Vantage Group operates various brands and domains through legal entities in different regulatory regimes. The offshore entities are Vantage Global Limited, regulated by the VFSC in Vanuatu, which operates the Moneta Markets and Vantage brands. Vantage International Group Limited, regulated in the Cayman Islands by CIMA, operates the offshore mutation of VT Markets. Both VT Markets and Moneta Markets are subject to warnings from European regulators. They solicit consumers in the EU without authorization and without proper onboarding.