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Tag: Revolut

May 22, 2023

Business Client Sues Revolut Over Fraud Facilitation And Money-Laundering Violations!

Revolut, the troubled UK fintech, is facing a lawsuit for facilitating a £600,000 fraud, according to a report by This Is Money. Terna Energy Trading, a company listed on the Athens stock market, has initiated legal proceedings against Revolut, claiming that the fintech firm violated money laundering regulations by failing to prevent a "fraudulent" transaction that took place last year. The court battle will present another challenge for Revolut co-founder and CEO Nik Storonsky.

May 19, 2023

Power Struggle: Revolut May Or May Not Be Granted A Banking Licence In The UK!

Over the last 48 hours, rumors have been circulating about granting the UK banking license to Revolut. One hears that the regulators would deny Revolut the banking license. There was also talk that Revolut had offered the regulators to withdraw the application. The Guardian reports that the UK government intervened and coordinated talks with Revolut as part of its growth strategy. Founded in 2015 by Russian-born Nik Storonsky, Revolut is the highest-valued FinTech in the UK.

May 14, 2023

Fact Check! The Ridiculous Black Banx Claim Of Being A $50-Billion FinTech Giant!

Self-proclaimed German FinTech billionaire Michael Gastauer has long suffered from an addiction to portraying himself as big and powerful. Over the past decades, he has built a payment scheme with a network of companies and brands through which funds from illegal transactions were also laundered. He is active with Black Banx, which reportedly has over 20 million customers and would be worth $50 billion. There is virtually nothing that can be verified.

May 9, 2023

Revolut And Its Issues With Compliance, Scammers, And The FCA Banking License!

Fintech unicorn Revolut has a problem with scammers and angry customers who have been victims of fraud. Customers complain about poor support and would not take the problem seriously. The accusations come at an inopportune time. The fintech has been seeking a UK banking license for two years. Insiders say Revolut's failure to obtain a banking license so far could also be linked to the company's compliance issues.

January 24, 2023

Interesting: The Explosive Growth Of Offshore Broker RoboForex!

RoboMarkets Ltd is a CySEC-regulated broker d/b/a RoboMarkets. RoboForex is the scheme's offshore broker operated by RoboForex Ltd, Belize, regulated by FSC Belize. The offshore broker solicits clients in EEA regions and offers leverage of up to 1:1000. According to Similarweb statistics, more than 2.8 million people visit the website in the last 28 days, with the majority coming from Mexico, Brazil, and Russia. Here is our update. RoboForex recorded explosive growth over the last months.

January 2, 2023

Reality Check! Another Incredibly Impressive Story Of Black Banx And Michael Gastauer!

The self-proclaimed German fintech billionaire Michael Gastauer is your man for fantastic stories. Whether they are somehow linked to reality remains to be seen. FinTelegram has already fought many battles with Michael Gastauer in some reality checks. On December 19, 2022, the Black Banx of Gasterauer sent out a fantastic press release. They now had 20 million customers, and one million accounts were being opened per month. Strangely, Similarweb somehow doesn't see that!?

Offshore Broker

November 10, 2022

Introducing Offshore Broker RoboForex

RoboForex is an offshore broker operated by RoboForex Ltd in Belize and operates under a license issued by FSC Belize and also accepts clients in the EEA regions. RoboForex is the offshore mutation of the CySEC-regulated RoboMarkets and offers leverage of up to 1:1000. According to Similarweb statistics, more than 1.4 million people visit the website every month, with the majority coming from Russia, Brazil, Germany, and the UK. Here is our initial review.

September 18, 2022

The Scam Legacy And Collapse Of FCA-Regulated Payment Processor NordPay

Currently, the indictments and trials against the operators of the Israeli scam network around GetFinancial are taking place in Germany. Around the GetFinancial scam, fund recovery scammers preyed on GetFinancial victims, posing as agents of the Cypriot regulator CySEC. The fund recovery scam victims' deposits were made to accounts at FCA-regulated high-risk payment processor NordPay Financial Ltd d/b/a CentralPay and Paysite Cash. NordPay collapsed following disputes between the founders and went into administration in April 2021.

September 8, 2022

The Disastrous Trustpilot Ratings Of Crypto Exchanges And The Exceptions CEX, Oobit, And BitPanda!

The well-known crypto exchanges like Coinbase, Binance, Crypto.com, or FTX seem to have a problem with their customers. On Trustpilot, most of the top crypto exchanges have scam ratings with customers complaining about unfounded blocked accounts and problems with customer service. Exceptions are CEX.io, Oobit, or BitPanda, which stand out like a lighthouse on Trustpilot. With 4.7-stars and 4.1-stars respectively, CEX.io and BitPanda apparently perform incredibly better than their international competitors.

August 16, 2022

Cyprus Becomes The New Home Of Revolut’s Crypto Hub!

The Cyprus Securities and Exchange Commission (CySEC) has authorized Revolut to launch its cryptocurrency service. The authorization will allow the neo bank to offer crypto services to its 17 million customers in the European Economic Area. Revolut is betting strongly on crypto and has been doubling down on its crypto strategy with the launch of 22 new tokens available to trade in its app. Revolut is valued at $33 billion and has approximately 20 million clients worldwide.

July 19, 2022

Strategy Change! UK FinTech Starling Withdraws Application for A European Bank!

Amit the FinTech downturn, UK-based neobank Starling Bank has withdrawn its application for a European bank license with the Irish central bank. Starling will instead focus on selling its software-as-a-service product and expanding into new areas of lending, CEO Anne Boden told staff in a memo Monday. Starling is one of the U.K.’s largest online-only banks, with more than 3 million clients, 500,000 of which are businesses.

July 17, 2022

The Power Of Financial Influencers -Revolut Goes TikTok!

The future of financial marketing certainly lies in social media and the so-called financial influencers. In addition to Instagram, TikTok, in particular, is enjoying increasing popularity among providers of financial services. Most recently, Revolut, one of the unicorns, proudly pointed out its success in social media and TikTok. The company worked with influencers such as Liam Payne, Anthony Joshua, and Simon Wilson and grew its social media following to more than 1.4 million followers. Lately, it has launched a TikTok account, which more than 260,000 people follow.