Klarpay AG, a Swiss-based fintech company, has officially rebranded as Bivial AG, signaling a strategic shift to enhance its position as a global leader in financial solutions for digital enterprises. This rebranding reflects the company’s transition from focusing solely on corporate payments to offering comprehensive treasury services, aiming to redefine business finance in the digital era. Key Developments Strategic Vision The transformation into Bivial AG represents a significant milestone, reflecting not just a name change but also a strategic expansion into treasury services and regulatory development. Positioned as the first Swiss-licensed fintech exclusively serving e-commerce and digital entrepreneurs, Bivial AG…
Author: Tom
Rabidi N.V., an offshore online casino and sportsbook operator, manages a diverse portfolio of brands, including GREATwin, Casinoly, and Boomerang Casino. Operating under a Curaçao license, Rabidi primarily targets European Union (EU) markets, processing payments through Cyprus-based Tilaros Limited. Key payment facilitators for these operations include PaymentIQ (Worldline), Payabl, and Noda. Company Overview AspectDetailsTrading NameRabidiBrands- GREATwin – Casinoly – Boomerang Casino – FEZbet – FunID – Wazamba – SlotsPalace – PlayZilla – Sportaza – ExciteWin – OhMySpins – 5Gringos – 7Signs – PowBet – House of Spades – LuckyElektra – Neon54 – Dolly Casino – ZetCasino – NominiActivityOffshore online casinos…
Swedish fintech giant Klarna, through its subsidiary Sofort, has been implicated in facilitating payments for unauthorized online gambling platforms. Investigations have revealed that Sofort’s services are being utilized by unlicensed online casinos, raising significant compliance and regulatory concerns. Klarna and Sofort’s Involvement in Unauthorized Gambling Recent reports have identified Sofort as a payment processor for several online casinos operating without proper licenses. These platforms have been accepting player deposits via Sofort’s bank transfer services, thereby enabling unlicensed gambling activities. Case Studies: Atlantis Slots and PlayRegal Two notable examples are the online casinos Atlantis Slots and PlayRegal. Both platforms have been…
Rabidi N.V., a company registered in Curaçao, has been identified as the operator of multiple online casinos and gambling platforms. Until recently, Rabidi held a Curaçao license, which now appears to be invalid. The company processed payments through various agents, notably Tilaros Limited in Cyprus. Bankruptcy proceedings have commenced against Rabidi in Curaçao. We are seeking further information from whistleblowers to shed light on these developments. Background on Rabidi Rabidi operated its online gaming platforms under a Curaçao license. However, this offshore license did not authorize them to offer services in several jurisdictions, including: Denys Butko has been identified as…
Tilaros Limited, a company registered in Cyprus, has emerged as a notable yet enigmatic entity in the realm of online gambling payment processing. Its associations with Rabidi N.V.’s casino platforms and the absence of an online presence raise significant questions regarding its operational practices and adherence to regulatory standards. Company Overview Established in January 2020 under registration number HE406322, Tilaros Limited lists Natalia Tsiourkina as its director. Despite managing substantial financial transactions for Rabidi’s online casinos, Tilaros operates without an official website—a rarity for firms handling high-volume payments. This lack of digital footprint prompts inquiries into how Tilaros conducts Know…
Scam-Or Project continues its investigation into the entities and individuals associated with the insolvent online casino operator, Rabidi. The company’s bankruptcy was initiated by a player who filed a petition after not receiving their winnings, leading to the revocation of Rabidi’s license by the Curaçao Gaming Authority. Despite the insolvency, these casinos have continued operations, now functioning anonymously and without authorization. All indications point towards Cyprus and the ButOn ecosystem as central to these ongoing activities. Whistleblower Revelations Recent disclosures from whistleblowers have provided critical documents from Tilaros Limited, one of Rabidi Casinos’ Cypriot payment agents. These documents have enabled…
In our ongoing analysis of the online gambling sector, particularly focusing on compliance and payment services, we’ve identified key players facilitating financial transactions. Our recent investigation into the bankruptcy of the casino operator Rabidi has brought attention to the Estonian crypto payment processor, BitSpider. BitSpider: An Overview BitSpider OÜ, established in Estonia, has held a cryptocurrency license from the Estonian Financial Intelligence Unit (FIU) since 2020. The company specializes in providing merchants with solutions to accept cryptocurrency payments, offering services that automatically convert crypto revenues into fiat currency for merchant withdrawals. As of July 15, 2024, BitSpider had not submitted…
Zet Casino, previously managed by the now-insolvent Rabidi N.V., continues its operations under new management. Currently, Liernin Enterprises Ltd, registered in the Marshall Islands, oversees the casino, with payment processing handled by Mirata Services Ltd, based in Cyprus. Despite holding an offshore license from the Philippine Amusement & Gaming Corporation, which is not recognized within the European Economic Area (EEA), Zet Casino continues to accept players from the EEA and the UK without restrictions. Background and Transition Before its bankruptcy in 2023, Rabidi N.V. operated numerous online casinos under a Curaçao license. Following the bankruptcy and subsequent license revocation, former…
The online gaming industry often conceals its true ownership through intricate structures, making it challenging to identify the actual beneficiaries. The Rabidi Group exemplifies this complexity. Once a prominent entity in online gambling with a Curaçao license, Rabidi faced scrutiny after its abrupt disappearance following bankruptcy in June 2023. Subsequent to Scam-Or Project reports, Denys Butko, the alleged beneficial owner, removed his LinkedIn profile. Background: The Ascendancy and Decline of Rabidi Group Established in 2019, Rabidi Group rapidly became influential in the online gambling arena, managing at least 34 online casinos under Rabidi N.V., a Curaçao-registered company. Despite this, the…
Scam-Or Project has published a detailed report on Cazimbo Casino, highlighting the critical role payment processors play in supporting illegal online gambling operations. This investigation underscores the necessity of scrutinizing financial facilitators to curb unauthorized online casinos. Cazimbo Casino: An Examination Cazimbo Casino operates without proper regulatory authorization, continuing the legacy of the defunct Rabidi Group. Key observations include: Payment Processors: Enablers of Unauthorized Gambling A significant concern is the involvement of regulated payment processors facilitating Cazimbo’s operations. As of August 21, 2024, Cazimbo collaborates with several notable processors: Notably, Tilaros Limited, the owner of the “Cazimbo” brand, appears to…