Illegal Payment Services | FinTelegram News

Category: Illegal Payment Services

March 25, 2022

Vanished Daxiron broker scam cooperated with German Solaris Bank

We have reported and warned about the PandaTS white-label broker Daxiron several times over the last few months. After each report, the Daxiron scam changed a bit. Most recently, the domain was changed, which we also brought to our readers' attention. Now the broker seems to have disappeared. Daxiron victims have sent us documents that prove that Daxiron cooperated with the German Solaris Bank to deceive customers about bonus programs and account insurance.

March 24, 2022

PGSELLERS – A high-jacked illegal payment processor or a made-up story?

Over the last few years, UK registered PGSELLERS has come to our attention as an illegal payment processor in several major broker scams. Scam victims were asked to deposit funds into PGSELLERS' accounts at Deutsche Handelsbank, Klarna, and other banks. A few days ago, the registered director and economic owner of PGSELLERS, Paul Solinsky, contacted us and claimed that the entity was hijacked by scammers and used as an illegal payment processor without his knowledge.

March 22, 2022

Urgent warning against PrimeDeltas broker scam!

Delta Nomines Ltd, authorized by the IFSC International Financial Services Commission in Belize with license number RA000693/80529, is allegedly the operator of the broker scam PrimeDeltas. This is what is claimed on the website. However, we found a Delta Nominees Ltd with license number 000052/62 but do not know if that is the operator. As a facilitating payment processor, we have discovered GameChangers for credit and debit cards behind BoxiPay cashier. Stay away from this fraud!

March 22, 2022

Warning! GoldenGates broker scam facilitated by BridgerPay

The Spanish regulator CNMV has issued a warning against the broker scam GoldenGates a/k/a GoldenGates Global on March 22, 2022. The website does not provide any information about the operators. It only refers to the Marshall Islands as the relevant jurisdiction. In addition, an address and two phone numbers in the UK are given. The only payment processor we discovered is the Cypriot-Israeli BridgerPay by Ran Cohen. Stay far away from this scam.

March 21, 2022

Breaking News! Please read the statement of the PGSELLERS director!

FinTelegram has received a statement from Paul Solinsky, the director and beneficial owner of the UK entities PGSELLERS LTD and Ecore Payments Ltd d/b/a Ecore Merchant Services (Ecore). We have exposed PGSELLERS as an illegal payment processor and scam facilitator in various broker scams. However, Paul Solinsky claims that he has been a victim of a group of fraud gangs. He already applied to the Companies House for a voluntary strike-off of PGSELLERS. Below is his statement to FinTelegram:

March 17, 2022

Bravo! UK regulator warns against Michael Gastauer’s scam-facilitating Black Banx scheme!

German Michael Gastauer is a hustler on the gray and black side of the financial market. Not coincidentally, his latest company is called Black Banx (previously WB21) and promises to get bank accounts for individuals and merchants accounts in over 180 countries in minutes. On LinkedIn and its website, Black Banx claims to have 8 million customers and $10 billion in monthly transaction volume. We doubt the figures of this high-risk and dark side payment processor. The UK FCA has issued a warning against Black Banx.

March 17, 2022

Do not fall for the broker scams etaltd, Global Morgan and CommerceWealth!

German BaFin announced that it launched investigations into the ETA Ltd broker scam. The contents of the website and other information available to BaFin justify the assumption that unauthorized banking transactions or financial services are offered in Germany via the platform. Neither an imprint nor information about the registered office of ETA Ltd can be found on the site. The scam seems connected to the Global Morgan and CommerceWealth broker scams. As facilitating payment processor, we found Payonera.

March 16, 2022

Investor warning against InertiaFinance

BaFin has announced investigations against the broker scam InertiaFinance. Tryst Consulting LLC in St. Vincent & The Grenadines is allegedly the operator. The BaFin states that Inertia Finance does not hold a license to conduct banking business or provide financial services. Potential victims can lose their money via credit and debit card deposits as well as cryptocurrencies. They should stay far away. Save yourself financial losses and the theft of your data.

March 14, 2022

Attention! Russian crypto payment processor Payeer with Estonian license!

The FCA recently made clear that regulators worldwide are taking concerted action against crypto companies that violate Western Alliance sanctions against Russia. Cryptoasset firms must take steps to ensure their compliance with the sanctions. The Estonian FIU recently made sure that Russian-controlled Garantex Europe OÜ had its crypto license surrendered. However, there are plenty of other FIU-licensed crypto payment processors controlled by Russians that engage in illegal activities. One of them is Payeer OÜ, for example. Here is an update.

March 14, 2022

Dear victims! Please let us know more about the vanished investment scam WorldMarkets!

The WorldMarkets investment scam (www.worldmarkets.com) has been active since 2019 and has probably harmed tens of thousands of customers since then. The scam has been facilitated by illegal payment processors in a wide range of jurisdictions. In March 2021, the German regulator BaFin issued a Cease-and-Desist Order against FAD Berlin Consult UG, one of the illegal payment processors of WorldMarkets. However, the scam was online until a few weeks ago. Let us do some forensic work together.

March 13, 2022

Urgent warning! Russian Binarium scam brokers still hunting Western consumers!

Amid the Ukraine War, the Russian Binarium broker scam continues its attacks. Legal entities in Cyprus and St. Vincent & the Grenadines operate the scam targeting consumers in Europe, North America, and Asia. In Dec 2021, the Italian Consob ordered the blackout of Binarium's websites for Italian consumers. The boiler rooms operate with Russian phone numbers and are located in Russia, Latvia, and Ukraine. The scam works with Russian payment processors and cryptocurrencies. Stay far away!

March 10, 2022

The Russian €5 billion issue! Estonian Garantex Europe lost crypto license!

Garantex Europe OÜ used to be a licensed Estonian crypto payment processor moving more than €5 billion. It had close ties to Russia, a regulatory investigation found. The Estonian Financial Intelligence Unit (FIU) identified serious and systematic deficiencies in the company's KYC/AML procedures, which would have led to the revocation of the crypto license. Consequently, Garantex Europe OÜ surrendered its license.