Latest Updates

  • BaFin cease-and-desist order against unauthorized payment processor Fronter Decision

    BaFin cease-and-desist order against unauthorized payment processor Fronter Decision

    Fronter Decision GmbH, registered in Offenbach, Germany, was entered into the commercial register in April 2019. The Ukrainian Nikitin Oleksiy was appointed as the sole managing director. In fact, many of the German money laundering companies have Ukrainian directors. As non-EU citizens, these are hardly legally enforceable. BaFin issued a cease-and-desist order against the company in November 2020, which is now final.

     
  • FCA warning against PolarisTradePay crypto scam

    FCA warning against PolarisTradePay crypto scam

    PolarisTradePay (www.polaristradepay.com) is an unregistered brokerage platform in the field of energy, agriculture, stocks, and crypto-currencies. The UK FCA issued an investor warning against the broker on December 11, 2020, and calls it a scam. The platform is allegedly operated by Polaristrade.com Ltd, which does not exist.

     
  • U.S. CFTC Enforcement Division presents impressive 2020 results

    U.S. CFTC Enforcement Division presents impressive 2020 results

    On Dec 1, 2020, the U.S. CFTC's Division of Enforcement published its annual report for Fiscal Year 2020 (FY 2020). CFTC enforcement actions during FY 2020 resulted in $1,327,869,760 in ordered monetary relief, the fourth-highest total on record, and the third straight year-over-year increase.