Tag: Roland Folz

Notorious German Solarisbank Renames Itself Solaris And Changes Legal Form!

BaFin Ben - July 27, 2022

Over the last few years, we have found Berlin-based Solarisbank as a facilitating payment processor in many scams. In February, the German regulator BaFin sent a special auditor to the bank because of alleged money laundering problems. Now the German bank has dropped the term "bank" from its name and just calls itself Solaris. It wants to focus on the company's technical DNA and be perceived as a technology company rather than a bank. The strategic focus is, therefore, on the Banking-as-a-Service (BaaS) offering for other FinTechs.

Compliance issues! German BaFin sends a special auditor to fintech Solarisbank!

BaFin tamir - February 2, 2022

We have discovered Solarisbank as a payment processor in major broker scams such as Daxiron or BitCenter. Up until today, large cybercrime organizations use Solarisbank as scam-facilitating payment processors. Scam victims reported that they have transferred sometimes large sums to bank accounts of the scammers at Solarisbank. German BaFin informed Solarisbank that it is now being under scrutiny by a special auditor due to serious compliance and money laundering issues.

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