Payvision settlement agreement

Booker and Cheng`s fined for massive KYC-failures!

On April 5, 2024, the Dutch Prosecutor announced that the criminal charges against Payvision´s board members were settled out of court.  Booker and his collegue Cheng Liem Li were found to have (2016 – April 2020) structurally and for many years violated the European Know your Customer rules and accepted

Read More »
Brokerscams

Extent of #BrokerScams in Europe!

The damage currently caused to small European investors by fraud on online trading websites (from now on, also referred to as #BrokerScams or #InvestmentScams) promising high returns for investments (right now mainly cryptos) in Europe is estimated at (at least) 1 billion euros per month (!). This is only a

Read More »
SLAPP Claims

EU finally approved better rules for “SLAPP” claims!

Over the past few years, we have learned that cybercriminals are not afraid of all of European law enforcement’s capabilities. Cross-border criminal investigations—in the rare case when opened—take years without any action. So, cybercriminals can make an excellent life for themselves for years with the victims’ money: expensive cars, expensive

Read More »
AMLA goes to frankfurt

AMLA in Frankfurt or to “to set a fox to guard the henhouse”

On 22 February 2024, the EU Council and the EU Parliament voted 28 to 26 to establish the new Anti-Money Laundering Authority in Frankfurt, Germany. This authority, anticipated in the highly regarded EU Anti-Money Laundering (AML) Package, is expected to play a crucial role in combating money laundering within the

Read More »
authorized push payment

Get prepared for a massive increase in APP scams in Europe!

Approvement of the new EU Instant Payments Regulation! On 7th February 2024, the European Parliament formally approved the new Instant Payments Regulation.  Under the new regulations for Instant Payments (also known as Real-Time Payments), all European payment providers are required to give their customers the option to conduct Euro-denominated credit

Read More »
GPay contract

Was Payvision an accomplice to the scammers?

For over four years, we have meticulously examined criminal files to decipher the operations of Barak and Lenhoff´s criminal organization and the involvement of Payment Service Providers (PSPs) in these schemes. In recent months, as we collected information for the ongoing civil proceedings against Payvision and Deutsche Bank, we have

Read More »
EU AML Package

The upcoming EU Anti-Money-Laundering Package!

The package of legislative proposals On 21 July 2021, the European Commission presented a package of legislative proposals designed to combat money laundering, terrorist financing and sanctions evasion. . This proposed AML/CFT Package included four pieces of draft legislation which consist of: The EU “single rulebook” Regulation ( “AMLR” ):

Read More »