Investor Warnings – Austrian FMA warns against broker scams – illegal payment processors exposed
The Austrian Financial Market Authority FMA has issued a number of investor warnings in recent days. Among them are again scam customers of the notorious Cypriot payment processor Praxis Cashier System Ltd (d/b/a Praxis Cashier and Praxis Pay) of Amit Klatchko. Specifically, the FMA warns against the broker scams Tradixa, GFXRoyal (GFX Finance), HBC Market (HBC Markets), and BSB Global. The FinTelegram Research Team has looked at the special […]
BaFin Issues Cease-and-Desist Order Against Payment Processor Global Data Conduct
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 […]
The end of an era – Cybercrime Payment Processor GPay officially wound up
While Gal Barak today, August 26, 2020, has another day of proceedings in the Vienna Cybercrime Trials, the forced liquidation of GPay, which had already been ordered by the UK High Court on June 23, 2020, was registered at Companies House. In the public interest based on the investigations of the UK Insolvency Service. A formal act but one […]
Vienna Cybercrime Trials – Strange Confession and Mysterious Death of Key Witness
Gal Barak, the Israeli national accused of heading the cybercriminal enterprise E&G Bulgaria, appeared once again before a Vienna court. He faces allegations of running several fraudulent broker operations, involving investment scams and money laundering. Barak expressed disbelief over the accusations, telling the court he doesn’t understand why he is being singled out when many […]