New Unauthorized Payment Services Providers In Illegal Broker Schemes Exposed

FinTelegram and EFRI recently launched the EFRI PSP Class Action Campaign to uncover payment service providers (PSPs) that support and facilitate illegal broker schemes such as XTraderFX, SafeMarkets, Golden Markets, Option888 or XMarkets to cheat millions of investors. Those PSPs are fraud facilitators and have to exposed to warn investors. Within a few hours, the EFRI PSP campaign received numerous reports about mostly unauthorized PSPs.

Identified Payment Services Providers

Find below the list of recently uncovered PSPs working with illegal broker schemes for bank wires. Unfortunately, all of those uncovered illegal PSPs are either EU-registered companies and/or are working with EU banks mostly in Germany and Hungaria. We advise not to make any transactions and/or bank wires with these illegally operating PSPs:

PSP

IBAN

WORKPLACE CONSULTING GMBH DE40440100460412627461
DE65700222000020400501
DAVIS CONSULTING AND MORE GMBH DE11440100460414901469
NETWORK CONSULTING GMBH DE87440100460415570468
DE74440100460416952467
CONDESK GMBH DE79440100460409328468
INTELLESTATE BAU GMBH DE62440100460413173466
CROW ESTATE KFT. HU18104044675052687774541018
ARMCORP EAST EUROPE LTD HU48103000021053115249020016
HU74103000021053115248820019
GREKQI GROUP S.R.O. CZ4927000000001026453010
4COM NETWORK RO15INGB0000999908563122
W2P SOLUTIONS LIMITED BG07DEMI92401400206781

German BaFin Ordered StronIT To Pay Back

We have been informed by EFRI members that the German financial market watchdog BaFin ordered the illegally operating German PSP StronIT (see FinTelegram report) to pay back the remaining money to the clients of illegal broker schemes. FinTelegram reached out to BaFin for a statement and further information.

Report Payment Services Provider

If you are aware of any payment services provider (PSP) working with illegal broker schemes please report them into the EFRI PSP Class Action Campaign.