annual report about Payvision

Open Letter to ING´s ESG Committee

ING ´s ESG Committee is to enforce adherence to ESG principles On March 9, 2023 the Dutch ING Groep NV published its annual report for 2022. In this annual report ING Groep NV talks a lot about social responsibility (compare the section: STAYING SAFE AND SECURE) and about the essential

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We need efficient and effective anti money laundering enforcement in Europe!

EFRI`s open letter to the European Authorities in charge of anti-money laundering. Based on our findings of the activities of some European licensed Payment Institutions  and e-money institutions in the online  fraud industry (in specific Payvision B.V., Wirecard Bank AG, Moneynet Int LTD)  we formulated some recommendations and established an

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ING is phasing out PAYVISION

Another Open Letter to ING and DNB about PAYVISION!

The phasing out process of PAYVISION ends today (June 30, 2022)! On October 28, 2021, ING announced that it would start phasing out the business activities of its subsidiary PAYVISION as a payment service provider (PSP) and acquirer. According to the announcement, this was done after a thorough evaluation of

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the money flow of the scammer´s industy

The money flow in the scammers´ industry!

The professionalism of today’s cybercriminal organizations (in short: the scammers’ industry) correspond to the professionalism and procedures of legitimate big international corporations. Technology, development activities, human resources, accounting, finance, marketing, legal departments are carried out by different departments independently under the professional leadership of the management people hired by criminals.

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Kobenhavns Andelskasse scammers

How Kobenhavns Andelskasse got hijacked by scammers!

Kobenhavns Andelskasse: A Small Bank’s Role in Massive Financial Fraud Kobenhavns Andelskasse (a.k.a. Copenhagen Cooperative Fund or KBH Andelskasse), a small Danish-regulated bank, became a key enabler of international fraud by collecting and transferring hundreds of millions of euros in stolen funds to boiler room scammers in 2017 and 2018.

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HSBC cybercrime

HSBC – a dirty bank as an accomplice of big style cybercrime!

EFRI, an association based in Vienna, Austria, set up in spring 2020, by now represents more than 1,052 European consumers who were defrauded by cybercriminals. As of writing the victims lost over EUR 59.2 million in the form of investment scams also referred to as boiler room scams. HSBC, one

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EBA to start to do a proper job

EBA has finally to do a proper job!

In preparing the civil legal claims against PAYVISION B.V., we dig deeply into the criminal files for Option888 and the Wolf of Sofia. We learn a lot about how these fraudulent schemes work. In addition, we also know a lot about the enablers of these enormous fraudulent activities. Unscrupulous regulated

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Payvision and its US Court Cases

PAYVISION and its US court cases (Scammers and their PSPs PART II)

We have been doing a deep-dive investigation in PAYVISION B.V. Amsterdam’s business activities. PAYVISION B.V. is a 100 per cent subsidiary of one of the world’s most reputable banks ING Groep N.V. We know that PAYVISION served scammers like Gal BARAK and Uwe LENHOFF wilfully, as described in our article

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