R4I – Scam-facilitating payment processor MidPay powered by Coriunder

Scam-facilitating payment processor MidPay and Coriunder
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Scam-facilitating payment processors are the worst scourge for the emerging CyberFinance era. They enable cybercrime organizations to conduct their illegal business and launder the money stolen or illegally acquired in the process. The scams run by cybercrime organizations come and go; their offshore entities and websites disappear vanish into thin air. However, payment processors remain and form the financial backbone of the dark side of CyberFinance. MidPay is one of them working with the Israeli Coriunder back-end service provider. We’d like to know more about it.

We last found MidPay as a payment processor in the TrustPac scam the UK Financial Conduct Authority (FCA) warned against (report here). MidPay‘s website (www.midpay.io) gives exactly zero information about the operators. Allegedly, the website has been operating since 2016. There is no contact information such as address or email.

Scam-facilitating payment procdessor MIdPay powered by Coriunder

On MidPay‘s Merchant Control Panel, you can view documentation (API here or Web Services here), but that’s about it. The social media pages listed on the site no longer exist. They have either been deleted or suspended. One thing, however, one learns. MidPay operates on the back-end services provided by Eliad Saportas‘ white-label platform Coriunder, operated by Coriunder Limited (OpenCorporate). The company is registered in Cyprus under the number HE353958. Coriunder‘s founder and CEO is the Israeli Eliad Saporta (LinkedIn) in Israel (read this report here).

According to its LinkedIn page, Coriunder is a “back-end service platform” focused on providing services to other FinTechs or PayTechs such as MidPay, PayoTop, or Pradexx.

MidPay is a very secretive high-risk payment processor that apparently also serves the dark side of CyberFinance and facilitates its scams. If you have more information about MidPay and/or Coriunder, we would be grateful if you could share it with us.

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