Tag: VCT

The Dutch high-risk payment processor Payvision is deeply involved in the swamp of broker scams around the Vienna Cybercrime Trials. It allegedly wilfully and knowingly facilitated broker fraud and money laundering. The presumption of innocence applies. Today's announcement of a partnership with the global hospitality platform Selina has to be appreciated. The idea is to provide Selina clients with ultimate payment experiences while traveling. Not an easy business model in the COVID-19 pandemic but hello, positive news though.

The Israeli fraudster Gal Barak is currently serving his four-year sentence handed down by the court in early September 2020 in the #VCT proceedings. He was one of the principals of the E&G Bulgaria cybercrime organization and found guilty of investment fraud and money-laundering. The German prosecutor's office also wants to charge him and has requested extradition. The trial against his wife, Marina Barak, is scheduled to start on March 15, 2021.

The Georgian-born Israeli Gery "Gabi" Shalon is arguably the mastermind of the world's largest cybercrime organization, stretching over the U.S., Europe, Russia, Georgia, Israel into Asia. The Israeli accountant Ziv Orenstein was one of Shalon's deputies in the U.S. There, they operated illegal gaming schemes and performed the largest cybercrime attack ever on the U.S. financial industry. While waiting for his U.S. trial Shalon continues to operate his cybercrime ventures.

Oh yes, the alleged German cybercrime mastermind Uwe Lenhoff was a very good acquaintance of Payvision founder and CEO Rudolf Booker. They spent skiing vacations together in Austria and communicated a lot. Thanks to the frequent and very open communication between Lenhoff and Booker, their business details can be found in the criminal files. They show how high-risk payment processors work.

Undoubtedly, high-risk payment processors (#HRPP) are at the very center of cybercrime and scams. Very often, they facilitate consumer fraud and related money laundering. In early September 2020, Gal Barak was sentenced to four years in prison for investment fraud and money laundering in the Vienna Cybercrime Trials (#VCT) for operating a global scam broker network. A breakthrough in the fight against cybercrime. the forensic analysis of banking and financial data by law enforcement, the trial findings, and the court's reasoning in the verdict also allow investigating the anatomy of high-risk payment processors.

Gal Barak was sentenced to four years imprisonment and restitution payments for investment fraud and money laundering as a principal of the Bulgarian cybercrime organization E&G Bulgaria in the Vienna Cybercrime Trials (#VCT) opening in early September 2020. It was already clear at the time that other countries would also press charges against Barak if he were found guilty. Barak is currently still in prison in Austria. Germany intends to file charges against him and has sent an extradition request to the Austrian authorities.

The Russian hacker Andrei Tyurin was sentenced in Manhattan federal court to 144 months in prison for his role in the largest financial hacker attack in US history, which was masterminded and coordinated by the Georgia-born Israeli cybercrime supervillain Gery "Gabi" Shalon. Tyurin has pleaded guilty to the charges and allegedly earned more than $19 Mio for his job. Tyurin controlled hacking activities through a computer infrastructure on five continents from his home office in Moscow.

In September 2020, Israeli Gal Barak was sentenced to four years in prison and millions in restitution payments in...

Austrian Financial Market Authority (FMA) issued an investor warning against the broker scam SolidCapital (www.solidcapital.io), allegedly operated by Royal Gates Ltd, St. Vincent and the Grenadines. The scam works with Anydesk and Boiler Rooms with the phone number +442037692938 (one of many). This phone number is connected to other scams like MegaTradeFX or MarketCapital. As a payment processor at SolidCapital, we noticed BridgerPay again.

Austrian Financial Market Authority (FMA) issued an investor warning against the broker scam SolidCapital (www.solidcapital.io), allegedly operated by Royal Gates Ltd, St. Vincent and the Grenadines. The scam works with Anydesk and Boiler Rooms with the phone number +442037692938 (one of many). This phone number is connected to other scams like MegaTradeFX or MarketCapital. As a payment processor at SolidCapital, we noticed BridgerPay again.

Austrian Financial Market Authority (FMA) issued an investor warning against the broker scam SolidCapital (www.solidcapital.io), allegedly operated by Royal Gates Ltd, St. Vincent and the Grenadines. The scam works with Anydesk and Boiler Rooms with the phone number +442037692938 (one of many). This phone number is connected to other scams like MegaTradeFX or MarketCapital. As a payment processor at SolidCapital, we noticed BridgerPay again.

Since its inception in 2018, the NGO European Fund Recovery Initiative (EFRI) has filed several crucial money-laundering complaints against banks and payment processors with the competent authorities in various jurisdictions. Without the intentional or negligent facilitation by these institutions, investment fraud and scams would not be possible in the first place. EFRI has now filed a money laundering complaint against Deutsche Handelsbank and the PPRO Group along with extensive evidence.