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Praxis Cashier Added to Payment Processor Blacklist

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 Praxis (www.praxischashier.com) 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. Praxis Cashier System Ltd, founded by Amit Klatchko (LinkedIn profile) has positioned itself in the scammers’ choice for its easy to connect with.

Potential customers of brokers should therefore not enter into a business relationship with providers who have integrated Praxis as payment processors.

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