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Tag: Virtual Pay

July 6, 2023

Updated Review On Red-Listed Offshore Broker Scheme PocketOption!

Most recently, the Belgian FSMA has placed the offshore broker scheme PocketOption a/k/a PO Trade on its blacklist. Over the past few years, several regulators have already warned against the unregulated broker. For a few weeks, PocketOption has been operated by Infiniti Trade LLC, a company registered in Costa Rica. Before that, it was Gembell Limited. We have added PocketOption to our Red Compliance list.

April 11, 2023

Offshore Broker Schemes Yadix And Kridex Assigned Red Compliance Rating!

The offshore broker Yadix is operated by Quantix FS Limited, registered with the FSA Seychelles. This small broker scheme has no authorization to offer its financial products in the regulatory regimes of the EEA. According to Similarweb, almost 22% of visitors to the Yadix website in the last 28 days came from Germany and 20% from Idatly. Yadix is likely to be operated from Cyprus. We have assigned Yadix a Red Compliance rating. Read our compliance review.

Offshore Broker

February 3, 2023

Offshore Radar: Introducing The Yadix Broker Scheme

The offshore broker Yadix is operated by Quantix FS Limited, registered in the Seychelles. The offshore entity is registered with the FSA Seychelles but is not permitted to offer its financial products in other regulatory regimes. According to Similarweb, more than 57% of visitors to the Yadix website in the last 28 days came from Egypt, but also around 17% came from Germany. Yadix is likely to be operated from Cyprus as well. Be very careful.

Offshore Broker

February 1, 2023

Investor Warning Against Offshore Broker Capital Street FX!

Capital Street FX is an offshore broker allegedly operated by Capital Street Intermarkets Limited in Mauritius. The company is registered with the FSC Mauritius as an Investment Dealer. Technology and payment services are provided through UK-registered Minus Zero Technologies Limited. It is an Indian broker scheme also believed to have an office in Dubai. Capital Street FX does not have authorization for North America, Australia, or EEA. Here is our initial review.

February 1, 2023

Introducing Offshore CySEC-Regulated Errante And Its Offshore Activities!

Errante is the trading name of the investment company Notely Trading Ltd, which CySEC regulates with license number 383/20. Errante also operates two offshore mutations via Errante Trading LLC, St. Vincent & The Grenadines, and Errante Securities (Seychelles) Ltd, regulated by the FSA Seychelles. For unknown reasons, the Seychelles mutation switched the domain Errante.com to Errante-Global.com in December 2022. Here is our initial review.

Google Battles CFPB: Tech Giant Fights Back Against Federal Oversight in Payments Showdown

The U.S. Consumer Financial Protection Bureau (CFPB) has placed Google Payment Corp. under federal supervision, citing concerns over its error resolution and fraud prevention processes. This decision follows nearly 300 consumer complaints alleging issues such as inadequate investigation of fraudulent charges and insufficient explanations of investigation outcomes.

Wirecard Scandal Reignites: Markus Braun’s Release Demanded Amid Espionage Revelations

In light of recent court findings across multiple jurisdictions, it has become increasingly clear that the ongoing trial of former Wirecard CEO Markus Braun may be fundamentally flawed. The crux of this issue lies in the apparent failure to fully incorporate the now-established activities of fugitive ex-COO Jan Marsalek into the proceedings. This not only jeopardizes the fairness of Braun's trial but also risks obscuring the true nature and extent of the Wirecard scandal.

TikTok Takedown: America’s Digital Iron Curtain or Silicon Valley’s Secret Weapon?

The recent ruling by the U.S. Court of Appeals for the District of Columbia Circuit has sent shockwaves through the social media industry, upholding a law that could effectively ban TikTok in the U.S. The ruling cited national security concerns. This decision marks a significant escalation in the ongoing tension between the U.S. government and Chinese-owned tech companies.

Truong My Lan: A Tycoon’s Fall from Grace and Vietnam’s $44 Billion Financial Scandal!

The dramatic downfall of Truong My Lan, one of Vietnam’s most prominent property magnates, has sent shockwaves through the country's financial and political systems. The 68-year-old former billionaire is at the center of one of the largest financial frauds in history, a scandal that has not only exposed vulnerabilities in Vietnam’s economy but has also highlighted the intricate relationship between business and politics in the country.

Cash Cow Crypto: U.S. CFTC Enforcement Sets Records in FY 2024 with $17.1 Billion in Monetary Relief!

The U.S. Commodity Futures Trading Commission (CFTC) achieved a landmark year in FY 2024, securing over $17.1 billion in monetary relief, including $2.6 billion in civil penalties and $14.5 billion in restitution. The agency’s groundbreaking actions spanned digital asset (crypto) markets, voluntary carbon credits, and major compliance cases, highlighting its leadership in safeguarding market integrity.