Amit Klatchko | FinTelegram News

Tag: Amit Klatchko

February 15, 2021

German-Ukrainian Capital Letter Scam Group and its payment facilitators

German Capital Letter group operatees scams such as BrightFinance, SolidInvest, GFXRoyal, STSRoyal, STSCrypto, or GFXFinance. Various European regulators such as the FCA, BaFin, or the FMA have already warned and issued Cease and Desist Orders over the last months. The Italian Consob has ordered a blackout of the sites. Some scams are still active. Now the UK FCA issued a new warning. Praxis Cashier is still facilitating the GFXRoyal scam along with the Estonian AnyCach OÜ (d/b/a any.money).

February 13, 2021

Investor Alert – Don’t fall for the Bitcoin Formula, ProfitsTrade, LucrumPro, FXCM Group scams powered by Praxis Cashier!

The crypto hype is getting stronger every day. Almost every day, we read headlines about new crypto events. PayPal reports records since they accept cryptocurrencies. Elon Musk and his Tesla are buying $1.5 billion worth of Bitcoins, and most recently, Twitter chief Jack Dorsey and Jay-Z announced the creation of a Bitcoin trust. Meanwhile, the big media houses like CNN, BBC, or the Financial Times entertain with ever new exciting crypto stories. Scammers use this hype to rip off greedy and/or naive consumers with scams like Bitcoin Formula and ProfitsTrade.

January 31, 2021

FCA warning against scam broker BimFX24 with payment processor BridgerPay

A few days ago, the UK watchdog FCA issued an investor warning against the broker scam BimFX24. This is allegedly operated by a BIM LLC registered in St. Vincent & the Grenadines. Allegedly registered at the notorious Company Builders Wilfred Services address, the facilitating payment processor is once again the Cypriot BridgerPay of Ran Cohen who repeatedly asserted that BridgerPay would not accept scams. And time and again, BridgerPay is exposed as a scam facilitator.

December 20, 2020

AML: Another Chief Compliance Officer departs from GlobalNetInt

Lithuanian GlobalNetInt has had an audit from the Bank of Lithuania in recent months. The company focused on high-risk clientele appears to have compliance, KYC, and AML issues. Among the clients are many forex and crypto firms as well as payment processors associated with and/or facilitating scams. The problems with compliance were also confirmed to us by a consultant. Now the Chief Compliance Officer (CCO) is also said to have left the company.

December 19, 2020

Praxis Cashier plans to help brokers to raise client-victims deposits up to 20%

An estimated 6-7 out of 10 broker scams use Amit Klatchko's unregulated Praxis Cashier Systems Ltd (d/b/a Praxis Cashier) as a payment processor to process customer deposits. This gives Praxis Cashier the leading market position in the scam segment. With the integration of the broker CurrentDesk, Praxis Cashier aims to be able to increase deposits from "traders" (aka victims) by up to 20% again. This is totally bad news!

November 6, 2020

Law and Tax Enforcement Actions – Start with Payment Processors to chase cybercriminals

FinTelegram is frequently contacted by law enforcement agencies in various jurisdictions with requests for information. It has become known in the international law enforcement scene that FinTelegram has indeed valuable information and contacts. In our respective discussions, we recommend starting enforcement actions against facilitating payment processors. They are the backbone and payment data hubs of the ever-expanding cybercrime universe and its scams.

November 5, 2020

Praxis Cashier announced acquisition of IC Markets scheme as forex client

The unregulated Cyprus-registered Praxis Cashier System Ltd (Praxis Cashier) of Amit Klachko announced the acquisition of IC Markets (www.icmarkets.com) as a new Forex and CFD client. IC Markets is a globally operating regulated broker scheme established by Andrew Budzinski in Australia in 2007. Its different entities are regulated by Australian ASIC, Cyprus CySEC, and FSA Seychelles.

October 28, 2020

Investor Warning – Scam crypto brokers MarketsPilot and CMarkets Group

In the last weeks, we have received hints from customers that crypto trading platforms MarketsPilot and CMarkets Group may be scams. Our checks confirmed this assumption. Both crypto scams are operated by Click World Ltd in the Commonwealth of Dominica is in our opinion a scam. The involvement of Praxis Cashier as payment processors also underlines this. Red Flags everywhere!

October 1, 2020

FCA warns against broker scam AccepTrade facilitated by Praxis Cashier

The UK regulator FCA issued a warning against the broker scam AccepTrade (www.acceptrade.com) on September 30, 2020. According to the information on the website, this scam is operated by an AccepTrade Ltd in Dominica. Once again Praxis Cashier from Amit Klatchko is used as a payment processor and Estonian Transcoin is integrated for crypto deposits.

September 27, 2020

Investor Warning – FCA warns against MigoTrade facilitated by Praxis Pay

UK FCA issued an investor warning against the broker scam MigoTrade (www.migotrade.com) this week. According to the website, the broker is operated by Smart iSolution LLC, which is allegedly registered in St. Vincent & the Grenadines. The scam is once again facilitated by the Cypriot Praxis Cashier of Amit Klatchko which our Team identified in some other warned of scams this week.

September 26, 2020

Austrian FMA and other regulators warn against StarkMarkets broker scam

The Austrian Financial Market Authority FMA has issued an investor warning against the scam broker StarkMarkets (www.starkmarkets.com) which is allegedly operated by Krisimark Ltd and SWISSGEM Ltd in Sofia, Bulgaria. Already in June 2020, the Canadian British Colombia Securities Commission (BSC) issued an investor warning, and in July the New Zealand FMA (here). The scam facilitating payment processor is once again the Cypriot Praxis Cashier.

September 10, 2020

UK Watchdog FCA warns against Capital Way Group scam with Praxis Cashier

The UK regulator FCA issued an investor warning on 9 September 2020 against the scam broker Capital Way (aka Capital Way Group) operating with the domains www.capitalway.com and www.capitalway-group.com. According to the information on the website, the broker is operated by Eastridge Capital Ltd in the Marshall Islands and Usein Power Ltd allegedly registered in Bulgaria. Praxis Cashier from Amit Klatchko is the payment processor.