The German regulator has issued a Cease and Desist Order against the illegal payment processor Global Data Conduct GmbH, a company registered in Cologne, Germany. This German company at least acted as facilitator for the broker Scam TradesFX, received bank transfers from client victims and forwarded them to the scammers. The sole managing director of the company is Anatolijs Dedenko, who lives in Düsseldorf.
The unauthorized and thus illegally operating German payment processor TrustSecure GmbH has been operating since 2017. Initially, the company was founded at the end of 2017 as SCRI-Alpha 961 GmbH as an asset management company. Already in January 2018, the company was renamed to Trustsecure GmbH and Serghei Grodetchi with official residence in Düsseldorf was appointed as managing director. The BaFin issued another cease-and-desist order to TrustSecure in the context of the broker scams FDM Trade Online and TradesPrime.