EFRI’s Full Payvision Report: When Payment Infrastructure Becomes Fraud Infrastructure
EFRI’s Payvision Report: when payment infrastructure becomes fraud infrastructure
16 May 2026
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FRAML: The “Smoking Gun” That Proves the Need for Strict Liability
As the EU evaluates its “Fighting Online Fraud – Action Plan,“ a new emerging operating model is taking center stage: FRAML (the integration of Fraud and Anti-Money Laundering systems) to fight fraud real-time and more efficiently. At EFRI, we view FRAML as a double-edged sword. While it is a significant
5 February 2026
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How EY Enabled a $100 Billion Money Laundering Empire
Executive Summary An explosive whistleblower lawsuit reveals how Ernst & Young (EY) systematically enabled one of the largest money laundering operations in history, providing audit cover for a $100 billion criminal network operating through casino companies linked to Chinese organized crime syndicates. The case exposes how EY’s pattern of prioritizing
25 July 2025
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Can we finally charge Gery Shalon for his Crimes in Europe?
On 11 September 2024, the 8th Global Conference on Criminal Finances and Cryptocurrencies, co-organised by the Basel Institute on Governance, Europol, and the UNODC, took place in Vienna. One of the primary topics of discussion was the increasingly concerning role of cryptocurrencies in the online gambling and casino industry. As
12 September 2024
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AMLA in Frankfurt
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
23 February 2024
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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 aimed at combating money laundering, terrorist financing, and sanctions evasion. This proposed AML/CFT package consisted of four draft legislative acts: The EU “single rulebook” Regulation (“AMLR”) : contains provisions on conducting customer
30 January 2024
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Binance has pleaded guilty to money laundering charges!
Often, when victims transfer cryptos to investment scammers or pay ransoms to hackers, the funds end up in a Binance wallet. This trend has been noticeable since the crypto exchange’s inception in 2017, suggesting that the platform has been accommodating to criminals. We have been closely monitoring the business’s activities
23 November 2023
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Uncovering ING’s Overlooked Half-Billion Euro Disaster!
On January 29, 2018, Ralph Hamers, the CEO of ING Groep NV, one of Europe’s largest banks, proudly announced a significant move to enhance its presence in omnichannel payment services. ING Bank N.V. had successfully reached an agreement to acquire a 75% stake in Payvision B.V., a Dutch Payment Service
28 October 2023
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ING’s Checkered Money Laundering Track Record
There are rumours that ING is eager to enter into a new settlement agreement with the Dutch authorities regarding the Payvision money laundering case. ING is quite experienced in negotiating settlement agreements for money laundering cases, allowing shareholders to pay the fine. However, considering ING’s checkered history of money laundering,
17 April 2023
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Payvision’s criminal case has to include also the US court cases!
As of 8 October 2020, an investigation report submitted by the Dutch Supervisory Authority (DNB) to the management of Payvision B.V. – a licensed Dutch payment institution in Amsterdam, owned by one of the biggest banks in Europe, ING – stated that an on-site audit carried out by DNB
14 March 2023
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