Germany’s financial regulatory authority, BaFin, has issued a cease-and-desist order targeting the unauthorized payment processor Global Data Conduct GmbH. It is believed that the intended subject is likely Global Data Conducting GmbH, a registered company based in Cologne, Germany. This firm allegedly played a role in facilitating the now-defunct broker scam TradesFX by accepting wire transfers from investors and channeling the funds to the perpetrators of the fraud.
The company’s sole managing director is Anatolijs Dedenko, who resides in Düsseldorf.
According to BaFin, Global Data Conduct GmbH received funds from individuals into its own bank accounts, then transferred the money—primarily to accounts held by offshore companies. Among the beneficiaries were entities behind unauthorized trading platforms such as www.tradesfx.com.
[BaFin Warning – Official Link]
Unfortunately, Germany has become a hotbed for illicit payment processing services linked to broker scams. A shadowy ecosystem has taken root, particularly in and around the cities of Cologne and Düsseldorf. One notable example is B2G, a company operated by Rainer Treuer and Oleg Shvartsman, which is known for laundering funds and handling bank transfers for numerous fraudulent schemes.