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  • BaFin issues cease and desist orders against illegal payment processors

    On September 29 and 30, 2020, the German Financial Market Authority BaFin issued several Cease and Desist Orders against German companies that provide payment processing services without the appropriate authorization. The BaFin order against the German companies is related to the international broker scams GiroFX, STSRoyal, and Fibonatex against which other regulators have already issued warnings.

     
  • Investor Warnings – Austrian FMA warns against broker scams – illegal payment processors exposed

    The Austrian Financial Market Authority has issued a number of investor warnings in recent days. Among them are again scam customers of the notorious Cypriot payment processor Praxis Cashier System Ltd (d/b/a Praxis Cashier and Praxis Pay) of Amit Klatchko. Specifically, the FMA warns against the broker scams Tradixa, GFXRoyal (GFX Finance), HBC Market (HBC Markets), and BSB Global.