R4I | FinTelegram News

Category: R4I

May 31, 2021

Request 4 Information – Georgian-Maltese high-risk payment processor LuqaPay

We have received interesting information about the high-risk payment processor LuqaPay and would like to know more about it. On the LuqaPay website, no information is given about the legal entity and/or the acting persons. Currently, this payment processor works by invitation only. We have requested one. Therefore, we know that LuqaPay is operated by Fortis LLC, which is registered in Georgia, and that Songur Ozbingul, a Cypriot, acts with POA at this company.

April 30, 2021

R4I – Secretive scam-facilitating payment processor Paystruct

In recent weeks, Paystruct (www.paystruct.com) has appeared more and more frequently as a payment processor in our analysis of scam brokers. Like many of the high-risk payment processors, Paystruct discloses very little information on its website. There is no indication of the legal entity and individuals behind it. Contact can be made by email or phone with a number in London. Also, there is no additional information on the merchant dashboard except that Paystruct is supposed to be the world's best closed-loop token payment system with payouts under 24 hours.

April 22, 2021

R4I – Scam-facilitating licensed Estonian crypto payment processor PayTechno

We already know Igor Torsin. Don't we? The 62-year old Estonian lawyer works for Estonian company builder Eesti Firma OÜ and is a director at nine FIU-licensed Estonian crypto companies (read this report). Among them is PayTechno OÜ, supervised by the FIU with license number FVT000151. The company was registered in May 2018 and operates two domains www.cryptopaytech.com and www.paytechno.com. The latter is one of the worst scam-facilitators as a crypto payment processor. We would like to know more.

March 28, 2021

Regulated Lithuanian scam-facilitator Epayblock lost two top managers

We brought a Request 4 Information (R4I) regarding Epayblock a few days ago because we want to know more about the e-Money institution regulated by the Bank of Lithuania with authorization code LB001911. The reason for this R4I was that illegal Lithuanian payment providers such as Skylas, Merelita, or Ristema are involved in currently active broker scams. These companies launder money through their bank accounts at Epayblock. Upon our R4I, we received the information that two top managers had already left the company several months ago.

March 26, 2021

R4I – Epayblock, illegal payment processor clients, and money-laundering

Amid the hype of binary options, CFDs, and crypto trading, many FinTech entrepreneurs have picked up e-Money Institution licenses in Lithuania. Like Eyal Nachum with his Bruc Bond and International Fintech. Well, they lost the license and went to Singapore. However, MoneyNetint Group and its GlobalNetInt are still there; regulated! Most recently, Epayblock caught our attention because it is repeatedly involved in broker scams as a payment processor. We would like to know more about Epayblock.

March 14, 2021

R4I – The Latvian Racket, Estonian crypto payment processors MisterBit, Isunext, and Praxis Cashier

We ask for the support of our whistleblowers to supplement the information we have and to be able to create complete profiles from it. In the last few days, we have discovered two scams, Zurich Invests (here) and XFinances (here), where the Cypriot Praxis Cashier of Amit Klatchko, together with MisterBit of Cristiano Chiarugi, licensed in Estonia as a crypto payment processor, acted as payment facilitators. Also, we have received information suggesting a connection between MisterBit and Estonian Isunext.

February 18, 2021

R4I – The secretive Ukrainian Paythrone focused on complex merchants

Admittedly, the website of the high-risk payment processor Paythrone looks acceptable. Not exactly majestic as the name might suggest, but visually at least nice. Other..

February 18, 2021

R4I – Estonian crypto payment processor Itez and Databridge

We have already discovered the high-risk payment processor Itez (www.itez.com) in several scams as a facilitator. For example, FXOptex, Optimus Markets, and Spintop Capital have integrated Itez as a payment processor. Itez is operated by DataBridge OÜ, which is licensed in Estonia by the relevant FIU. Maria Neverdinova-Rostovtseva is installed there as Nominee Director (Monkey). Currently, we do not know the beneficial owners of DataBridge. We would like to know more about the payment processor.

February 7, 2021

European FinTech Ecosphere – Introducing high-risk payment processor AstroPay

The AstroPay website (http://www.astropay.com) is operated by Larstal Limited, a company registered in the UK and regulated by the FCA as an e-Money Institution with..

February 7, 2021

R4I – Broker scam 27ProQuote closed down but Maltese ApcoPay still there

Many retail investors have lost money via the broker scam 27ProQuote. The attackers behind it are apparently in the process of closing the scam. Currently, the server of 27ProQuote is no longer accessible. We have reports of victims who have lost over €100,000 in some cases. The Maltese ApcoPay operated by Apco Systems Ltd registered in Malta processed the payments. We would like to know more about ApcoPay to expose the scammers and find the victims' funds.

February 5, 2021

R4I – Coriunder, the Israeli-Cyprus Lord of the gateways

The backbone of cybercrime and scams are payment processors that accept the operators of illegal and/or fraudulent business models as merchants. And process the illegal money flows. Without them knowingly and willingly facilitating scams they wouldn't be possible in the first place. Many scam-facilitating payment processors and gateways are powered by Coriunder, an Israeli payment gateway operator based in Cyprus. This configuration of regulated PSPs and API-connecting unregulated PayTechs has become standard and is a good way to hide. We'd like to know more about Coriunder.

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December 23, 2020

R4I – What’s your experience with the Israeli fund recovery venture Action Refund?

Hundreds of binary options, Forex, and CFD scams have robbed hundreds of thousands of investors worldwide of their money since 2010. Therefore, Israeli fund recovery experts we Wealth Recovery International (WRI) of Austin Smith have also emerged. Smith was convicted in the U.S. for investment fraud related to the Yukom binary options scam and his WRI activities. Now there is a new Israeli fund recovery expert, Action Refund Ltd (ARF). We'd like to know more about it.