court room

Criminal trials around Barak´s and Lenhoff´s criminal organizations.

The criminal organization around Gal and Marina Barak, Uwe Lenhoff, Gery Shalon, Vlad Smirnov and their service providers (call centers, marketing affiliates, payment service providers) defrauded tens of thousands of innocent retail investors with their fraudulent websites (optionstarsglobal, xtraderfx, safemarkets, cryptopoint, goldenmarkets, zoomtrader, option888, xmarkets, tradovest, tradeinvest90) during the years

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criminal charges 2023

Criminal charges for investment scammers 2023

As there is no central register for criminal charges brought against scammers in Europe and it gets really burdensome to remain updated, we will try to summarize our knowledge about the criminal trials and criminal proceedings ongoing here. TradeSolid, SolidCFD, IntegraOption, FXIntegra, TechOption, GetFinancial, ProCapitalMarkets, GainFinTech, MyCoinBanking, AccepTrade, ProfitsTrade, CoinsBanking

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Option888

Dutch Legal Action against Payvision BV started!

Around 300 victims from all over Europe,  coordinated and supported by EFRI, have been requesting restitution payments for their losses since they learned about the reckless and willful involvement of Payvision in Barak and Lenhoff´s online scams. Legal claims in Austria and Germany are already pending. Additionally, a larger group

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UK Companies House set for reforms

UK companies are a plague, reforms are badly required!

Graham Barrow has been highlighting the misuse of the UK Companies House for years now.  Today, he announced on Linkedin that as of yesterday, 18 April 2023, 11,069,109 companies are registered with the UK  Companies House Register. Out of these 11 million registered entities, only  5,227,447 are active.   Founded

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FCA Letter 16 March 2023

Will the Consumer Duty solve the UK payment industry issue?

In July 2022, the British FCA  (Financial Conduct Authority) confirmed that it would be introducing a higher standard of customer protection, requiring regulated firms (including payment institutions and e-money companies) to put their customers’ needs first.  The new “Consumer Duty” rule consists of three elements: New consumer principle. The new

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ING

ING´s checkered money laundering track record!

There are rumors that ING is eager to do a new settlement agreement with the Dutch authorities for the Payvision money laundering case. ING is quite experienced in doing settlement agreements for money laundering cases letting the shareholders pay the fine.  But considering ING´s checkered money laundering track record it

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BBC report about the Milton group

BBC and the inefficieny of the European law enforcement!

Simone Weinglass and BBC did a great job in identifying the issues of the law enforcement in Europe! The Milton Group is a transnational cybercriminal organization! In autumn 2022 it got public that in a concerted action, European authorities succeeded in striking a blow against the “Milton Group” after years

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Case Study_ payment Institutions

Acquirers are liable for enabling the Wolf of Sofia´s scams

Why are acquirers to be held accountable for illegal activities The digitalization pushed by governments worldwide and praised for its benefits in efficiency and productivity comes with high risks for consumers. Online fraud is by now the most commonly experienced crime. In England and Wales, fraud accounts for approximately 41%

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