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Posts tagged as “XTraderFX”

#FollowThe Money – E&G Bulgaria, Russian Binex Group and the Austrian Fondy connection

A few days ago we published part 1 of our #FollowTheMoney series in connection with the gigantic broker scam of the cybercrime organization E&G Bulgaria of the Israeli Gal Barak and his wife and co-conspirator Marina Barak (formerly Marina Andreeva). In the meantime, the European law enforcement agents of Germany, Austria, Bulgaria, and Serbia have conducted further house searches and arrests in connection with this cybercrime organization.

Breaking News for scam victims – European law enforcement ‘Action Day’ – strikes against Gal Barak and related scam brokers in Germany, Austria, Bulgaria, and Serbia amid COVID-19 crisis

FinTelegram has already reported about the European law enforcement actions against scammers in Sofia, Bulgaria, and Belgrade, Serbia. Today, the authorities have sent out the…

#FollowTheMoney – Court Case E&G Bulgaria, illicit payment processor GPay and money flow to involved facilitators and offshore entities

This is the first part of the series on the public discussion of the flow of money around the currently largest cybercrime court case in Europe, Gal Barak's E&G Bulgaria. FinTelegram and EFRI want to mobilize the victims of the scams and together with the prosecutors to take action to secure the stolen money for funds recovery. We want to mobilize as much as possible victims of this cybercrime scheme - and there are more than 30,000 vicims we hear - before the trial starts.

XTraderFX Scam and the Wolf of Sofia – FCA regulated payment processor Cauri facilitated Gal Barak’s broker scam network

The reports of FinTelegram about broker scams and the attackers behind them help damaged investors as well as authorities and lawyers. We have made this experience in the last two years and we are more than happy with that. It shows us that the fight against scammers is useful and necessary. We learned of another fund recovery success story in UK along with the exposure of another facilitating Fintech company.

Exposed – ING subsidiary Payvision processed €130 million illicit proceeds for now-detained broker scammers Lenhoff & Barak and did so while reporting suspicious activities!

The extent of the damage caused by scam facilitating FinTechs is very clearly shown by the ING subsidiary Payvision. The Dutch Fintech processes some €130 million just for the scams of the two now-imprisoned Uwe Lenhoff (Germany) and Gal Barak (Israel). Thanks to the investigations many sad hypothesis around FinTechs and their role as cybercrime facilitators have been proved by facts and evidence.

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