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October 18, 2022

CySEC-Regulated Skilling Continues To Onboard EEA Residents Via Its Offshore Entity!

Skilling Ltd, a Cyprus Investment Firm (CIF) regulated by CySEC, is doing business as Skilling. The broker scheme also offers offshore onboarding to EEA residents outside of ESMA and CySEC rules. This is done through Skilling (Seychelles) Ltd, with whom clients then enter into a Client Agreement. More than 70% of the website visitors are from Sweden. EEA consumers should be cautious with offshore Skilling as any investor compensation scheme or ombudsman does not protect them.

March 4, 2022

Binance partner Paysafe presents strong Q4 2021 results!

Most recently, public-listed payment processor Paysafe trading as Paysafe, NETELLER, Skrill, and Rapid Transfer attracted attention through its partnership with the world's leading crypto exchange Binance. The company is expecting strong growth in high-risk segments such as crypto, financial services, travel, or iGaming. Through the partnership with Paysafe, Binance has access to the UK FPS system, which the FCA is concerned about. Paysafe stocks gained more than 17% following its fourth-quarter earnings, which beat analyst expectations.

UNODC Report: Technology-Powered Cybercrime on the Rise in Southeast Asia!

The billion-dollar cyberfraud industry in Southeast Asia is booming, fueled by organized crime syndicates exploiting the latest in AI and cryptocurrency. The UNODC report notes that these criminal networks are outpacing government efforts to regulate and combat their operations. Urgent reforms and enforcement are needed to prevent further damage.

How U.S. Law Enforcement Infiltrated The International Crypto Scene!

In an unprecedented move, the FBI infiltrated the crypto world with its own token, NexFundAI, to crack down on market manipulation. This case marks a significant shift in crypto enforcement, signaling that law enforcement is evolving its tactics to keep pace with the complexities of the digital asset space. As more fraudsters are exposed, the crackdown on wash trades and pump-and-dump schemes is just beginning.

Breaking: German Co-Founder of Crypto Fraud Scheme USI Tech On The Run!

USI Tech was one of the first MLM schemes to use cryptocurrencies to defraud its investors. FinTelegram has issued several warnings aginst the scheme. Horst Jicha has now gone fugitive, leaving behind a trail of defrauded investors and evading justice in the $150 million USI Tech fraud case. With Jicha on the run, the case serves as a chilling reminder of the risks in the volatile crypto world.

Binance Chief Financial Crime Compliance Officer Denied Bail in Nigerian Case!

Think twice before starting to work for the world's larger crypto exchange. As Binance’s financial crime compliance officer faces money laundering charges in Nigeria, questions mount over the company’s compliance safeguards and the risks involved in its global operations. The denial of bail for Tigran Gambaryan and the ongoing legal battle could have far-reaching implications for the company’s future.

Fintech

Solaris Bleeds Cash and Jobs: Can This High-Risk Fintech Survive, Let Alone IPO?

Solaris, a German fintech and neobank, has a long history of compliance troubles. Moreover, its ongoing financial losses and regulatory woes doubt its long-term profitability, even as it sheds jobs and restructures for survival. A potential IPO, as rumored by the German platform Gründerszene, seems speculative at best in light of its deep-rooted issues with compliance and financial stability.