Latest Updates

  • Fund Recovery – A Financial Ombudsman reports scams

    Fund Recovery – A Financial Ombudsman reports scams

    The Israeli fund recovery service Pay Back a/k/a PayBack a/k/a Money Back are owned by Amir Geva and Daniel Poleb. They ask victims for several thousand euros or dollars down payment and, in addition, profit sharing. In many cases, it would be easier for victims to go directly to the relevant financial ombudsman and reclaim the money from the facilitating bank. Here is a report.

     
  • 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.