It is well known that Cypriot regulators have a super-relaxed attitude towards money laundering and high-risk payment processors. Tilaros Limited, a Cyprus-registered company, has emerged as a significant yet enigmatic player in the online gambling payment processing arena. With its ties to Rabidi N.V.‘s casino sites and a lack of online presence, Tilaros raises questions about its operations and compliance with regulatory standards.
Company Profile and Operations
Registered in January 2020 under the company number HE406322, Tilaros Limited is directed by Natalia Tsiourkina. Despite its pivotal role as a payment processor for Rabidi‘s online casino sites, Tilaros operates without a website, an unusual practice for a firm handling high-volume financial transactions. This absence of a digital footprint begs the question of how Tilaros successfully navigates Know Your Customer (KYC) and Anti-Money Laundering (AML) checks by banks and e-money institutions like the FCA-regulated E-Money Institution My EU Pay.
Financial Links and Transactions
Tilaros‘s financial activities are substantial, involving millions in payments to partners such as Estolio Limited in Cyprus and BitSpider OÜ in Estonia. Bank documents indicate that Tilaros is based at Viktoros Ougko 8 in Nicosia, sharing its address with Estolio Limited, a gambling company licensed to operate chance games in Estonia.
On Google, you can find numerous online casino and chance game platforms that are also registered at this address in Nicosia. All of them are operated by Rabidi, with payment services provided by Tilaros.
ButOn (website), an online casino and sportsbook solutions development controlled by Denys Butko, the founder and owner of Rabidi, is also registered at the same address.
The interlinking of addresses and financial dealings suggests a close affiliation between Tilaros, Estolio, ButOn, and the Rabidi network.
Read more about the Rabidi network here.
Regulatory and Legal Concerns
The core of the issue lies in Tilaros’s operational model. How does a company without a website manage to process millions in payments in the gambling sector? Furthermore, Tilaros appears to operate without a known license for payment processing. While internal transactions within the Rabidi Group may not require a payment license, the processed payments, potentially stemming from illegal gambling activities, are under scrutiny for money laundering.
Investigations and Call for Information
Authorities are reportedly investigating the financial activities linked to Tilaros, Estolio, and the Rabidi Group. Given the complexities and potential illegalities involved, any information about these entities is crucial.
Request for Whistleblower Contributions
FinTelegram urges individuals with knowledge about Tilaros, Estolio, or the Rabidi Group to come forward. If you possess any information, please share it via our whistleblower platform, Whistle42. Your insights could be instrumental in uncovering and understanding the operations of these entities within the online gambling and financial sectors.
