Tag: Ristema

Time and again! Recently, brought a Request 4 Information (R4I) regarding the regulated Lithuanian e-Money Institution Epayblock. This payment processor has been exposed as a partner of illegal payment processors such as Skylas, Merelita, Ristema, or BDIKA, which are involved in broker scams. These companies launder money through their bank accounts at Epayblock. Today, we discovered the Hungarian Dot Systems KFT, another illegal payment processor being a client of Epayblock.

We brought a Request 4 Information (R4I) regarding Epayblock a few days ago because we want to know more about the e-Money institution regulated by the Bank of Lithuania with authorization code LB001911. The reason for this R4I was that illegal Lithuanian payment providers such as Skylas, Merelita, or Ristema are involved in currently active broker scams. These companies launder money through their bank accounts at Epayblock. Upon our R4I, we received the information that two top managers had already left the company several months ago.

Amid the hype of binary options, CFDs, and crypto trading, many FinTech entrepreneurs have picked up e-Money Institution licenses in Lithuania. Like Eyal Nachum with his Bruc Bond and International Fintech. Well, they lost the license and went to Singapore. However, MoneyNetint Group and its GlobalNetInt are still there; regulated! Most recently, Epayblock caught our attention because it is repeatedly involved in broker scams as a payment processor. We would like to know more about Epayblock.