Tag: Rapyd

Between 2010 and 2018 Israeli binary options schemes conquered and deceived naive investors around the world. Millions of investors worldwide have lost up to $50 billion. With binary options also came the breakthrough of online payment processors, payment orchestrators, and paytechs. Sarel Tal with his brands AlgoCharge, Seroph, or FremainPay was a payment facilitator for binary options schemes. They have since disappeared. Sarel Tal is working as VP EMEA for regulated fintech Rapyd.

The German-speaking market has always been very attractive for scam brokers. One of them is WSXP, which exclusively attacks German-speaking consumers. The WSXP white-label scam is an exact clone of other fraudulent trading platforms such as EUAktien, EUSchild, SimpleXP, or KryptoInv. They all operated with the very same set of payment facilitators. It is, therefore, reasonable to conclude that the same cybercrime organization is operating these broker scams. The German BaFin recently launched a probe into SimpleXP.

The German regulator BaFin has announced investigations against the broker scam SimplexXP attacking German consumers. The content on the website justifies the assumption that SimpleXP is offering unauthorized banking transactions or financial services in Germany. The SimpleXP website is almost identical to the trading platforms under euaktien.de, euschild.de, wsxp.de, and kryptoinv.de, which are also operated without the required permission. It is, therefore, reasonable to conclude that the same cybercrime organization is operating these broke

FinTelegram research has been uncovered that the Good Option and Royal Broker binary options scams were operated by the Anguilla-registered G.O. Limited between 2014 and 2015. These and other scams have been facilitated by the Cyprus-based Payment Processor AlgoCharge of the Israeli Sarel Tal who acts as the director of AlgoPay Limited registered in Cyprus. Today all companies and websites have disappeared or are about to.