Neglecting Eurojust Guidelines – Maltese Authorities refuse to investigate scam-facilitator Paytah
Malta is greylisted for good reasons, mostly for their failing regulators. Malta-licensed, Phoenix Payments Ltd d/b/a Paytah, refuses to assist the many victims who wired money to the company to top their accounts with broker scams like RoyalsFX, LincolnFX, or CodeFX. Victims reported these transactions to the MFSA. The regulator replied that they would not investigate and asked the victims to report Paytah to the Central Bank of Malta, which replied that it would not investigate such complaints. The victims also emailed Kenneth Farrugia, the Director of Malta Financial Intelligence Analysis Unit, who did not reply.