Tag: Raphael Yehudah Golan

MoneynetInt, a FCA-licensed EMI with roots deep in Israel's high-risk payment sector, continues to draw scrutiny years after the binary options ban. Once a major facilitator in the fraudulent binary options industry, MoneynetInt's financials, connections, and questionable reputation-cleaning efforts warrant renewed attention.

FCA-regulated EMI MoneyNetInt was one of the big payment processors for the fraudulent binary options industry that defrauded hundreds of thousands of people out of tens of billions of dollars between 2010 and 2018. We exposed Israeli-controlled MoneyNetInt and its affiliated GlobalNetInt as payment facilitators in many scams. Consequently, in June 2021, the FCA announced that MoneyNetInt voluntarily stopped acquiring new customers temporarily in June 2021.

In June 2021, the Lithuanian-Israeli e-Money Institution GlobalNetInt (GNI), related to the FCA-regulated MoneyNetint Group, was penalized by the Bank of Lithuania for its violations of anti-money laundering and terrorist activities financing rules. GNI has to pay €350,000 because it did not properly assess the risk posed by customers and did not always ensure that customer identification remotely complied with legal requirements. GNI has been a notorious scam facilitator and is now doing business as payswix.

Whistleblowers provided documents proving that Lithuanian registered e-money institution (EMI) GlobalNetint UAB is involved in numerous scams as a payment processor. This is for example extensively documented in the "Maxigrid Case" with the associated scams RoyalsFX and LincolnFX. The CySEC-regulated Maxigrid itself has processed payments from victims of scams via its bank accounts with GlobalNetint.

FinTelegram has received information that the authorities in Poland and other EU member states are investigating the payment service...

The FinTelegram research team is systematically screening the market for Payment Services Providers (PSP) that support illegal broker schemes....