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Whistleblower Request – High-Risk Payment Processor Aexon!

Singapore payment processor Aexon has compliance issues
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In June 2022, FinTelegram published its initial report on the high-risk payment processor Aexon PTE. Limited d/b/a Aexon has been granted an exemption from holding a license by the Monetary Authority of Singapore (MAS), which expired. The company has its headquarters in Dubai and maintains an office in Singapore. The payment processor has compliance issues: clients can open an account without providing documents on the source of funds or wealth. Due to a lack of proper due diligence, correspondent banks refuse to open accounts for Aexon. We would like to learn more.

Key Data

Trading nameAexon
Business activityHigh-risk payment processor
Domainwww.aexon.online
Legal entitiesAexon PTE. Limited (Singapore)
Aexon (PTE) Limited (UK)
JurisdictionsSingapore
UAE
Related individualsMoises Fernandez a/k/a Moises Fernandez Barea
AuthorizationSingapore MAS granted an exemption from holding a license
(expired in Jan 2022)
Related entitiesJade Pegasus Ventures Ltd (UK)
Jade Capital Financial Advisory Services (UAE)

Short Narrative

Fintelegram can reveal that no employees sit at the official address in Singapore – 491B River Valley Road, 218373. Dozens of other companies use it as a registered address. The company is managed by its CEO, Moises Fernandez (LinkedIn), a/k/a Moises Fernandez Barea. He is a Spanish citizen but resides in Dubai, United Arab Emirates.

Moises Fernandez is also linked with two new companies registered in the UK, namely Jade Pegasus Ventures Ltd (company number 13572462) and Aexon (PTE.) Limited with company number 13570657. Both companies use 71-75 Shelton Street, Covent Garden, London, as their address. Hundreds of companies use this address as their registered office address.

We have received complaints from customers (merchants) of Aexon who claim that the payment processor withholds payments or charges extremely high fees. In addition, Aexon is said to accept merchants who conduct illegal business.

Moises Fernandez is also involved in Jade Capital Financial Advisory Services (www.jadecapitaluae.com), anis UAE company that provides financial advisory services and family office services, despite not having any license. The company uses addresses in Madrid and Dubai.

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If you have any information about Aexon and its partners, please let us know through our whistleblower system, Whistle42.

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