The unregulated Cypriot payment processor practice Praxis Cashier System Ltd was added to our Payment Processor Blacklist on 8 May 2020. The reason for this was its involvement in many scams as a payment processor. It is obvious that Praxis Cashier either has not implemented efficient KYC/AML/CTF procedures or intentionally does not apply them. The payment processor was established as a legal entity in 2016 by Amit Klatchko. As a matter of fact, there is currently hardly a forex and broker scam where this unregulated Cypriot payment processor is not involved.