Recent developments have intensified scrutiny on Rudolf Booker, founder of Payvision, amid allegations of money laundering and financial misconduct. In an interview with Financieele Dagblad, Booker describes the investigations as a “witch hunt” and shifts blame towards ING, the financial institution that acquired Payvision. Is ING at Fault? Booker asserts that ING is solely responsible for the subsequent closure of Payvision and the complete write-off of its acquisition cost. He contends that ING is attempting to place the entire burden on him. He emphasizes that any claims of inflating the sale price are serious and unfounded. The €350 million paid…
Author: Tom
We have recently started monitoring the Key Way Group, founded by Romanian entrepreneur Octavian Patrascu, and published an initial review. The group operates the online broker Capex through Key Way Investments Ltd, a CySEC-regulated entity, and also runs ClickTrades via KW Investments Limited, an offshore company registered in Seychelles. In our June 14, 2022 review, we found that Capex appears to violate ESMA and CySEC regulations by allowing pre-KYC deposits in unlimited amounts via bank wire. Below is a breakdown of our findings. Key Data Capex Pre-KYC Deposits via Bank Wire 💰 Bank transfers to Capex bank accounts are processed…
Ruediger Trautmann, a former COO of Wirecard (2005–2010), played a key role in establishing undisclosed entities linked to the Wirecard scheme, according to the Zatarra Report. One of these entities was Wire Card UK Limited, where Trautmann served as a director from 2006 until its dissolution in 2010. Although Wire Card UK Limited was not officially part of the German Wirecard Group, it was closely connected to the scheme. The name’s similarity to Wirecard was likely intentional, creating confusion and obfuscation. The Wirecard Shadow Network: Trautmann & Knoechelmann’s Role Financial analyst Fraser Perring refers to this network as the “Trautmann…
A few months ago, Payabl (formerly PowerCash21), a Cyprus-based payment processor founded by former Wirecard executives Ruediger Trautmann, Dietmar Knoechelmann, and Ayelet Fruchtlander Knoechelmann, led a CHF 3 million investment into the Swiss FINMA-regulated Klarpay AG. According to Similarweb statistics, Turkey has emerged as Klarpay’s most important market. While Klarpay is registered in Switzerland, key personnel are based in Cyprus, indicating that much of its operations may be coordinated from Cyprus. Furthermore, Klarpay appears to be a spin-off of BDSwiss, with many of its senior executives having previously worked for the CySEC-regulated broker. Key Data Klarpay’s Strong Ties to BDSwiss…
Klarpay, a FINMA-regulated fintech, recently announced key milestones for Q3 2022, following an investment from the Payabl Group. Payabl, founded by former Wirecard executives Ruediger Trautmann, Dietmar Knoechelmann, and Ayelet Fruchtlander-Knoechelmann, has positioned itself as a major player in the high-risk payment processing sector. Among Klarpay’s latest achievements:✅ Became a Principal Member of the VISA network✅ Integrated Visa’s B2B Connect, enabling cross-currency outbound payments for business clients✅ Introduced Apple Pay Key Data The Klarpay-BDSwiss Connection 📌 Klarpay AG appears to be a spin-off of BDSwiss, an investment firm linked to Jan Eric Malkus. Several ex-BDSwiss executives now hold key positions…
According to Similarweb’s September 2022 statistics, Payabl (formerly PowerCash21) has seen a tenfold surge in website traffic during Q3 2022, skyrocketing from 15,000 to nearly 140,000 visitors. 📊 Traffic Breakdown:🔹 55%+ of visitors originate from porn sites🔹 35%+ of visitors come from gambling, betting, and lottery platforms With these numbers, Payabl appears to have effectively replaced the collapsed Wirecard as Germany’s leading high-risk payment processor, according to Similarweb analytics. Key Data A Legacy of High-Risk Payment Processing 📌 Payabl.cy Limited is a Cyprus-regulated payment institution, founded in Germany and Cyprus around 2010 under the name PowerCash21.📌 The company was established…
In 2021, when Commerzbank cut ties with the porn company Manwin, Wirecard was quick to step in. Despite former CEO Markus Braun’s attempts to downplay the connection, Wirecard had long been deeply embedded in the porn and gambling sectors. The German fintech gained prominence by catering to high-risk industries, even as Braun later tried to distance the company from its origins. A recent FinanceFWD report sheds new light on Wirecard’s long-standing involvement with the adult industry. Wirecard’s Hidden Mission Two years ago, in an interview with Der Spiegel, Markus Braun was asked whether porn and gambling had been his core…
A recent report from FinanceFWD, an online financial magazine, examined the porn industry clients of the now-collapsed German high-risk payment processor Wirecard. For years, Wirecard facilitated payments for MindGeek, the company behind major adult websites like PornHub and YouPorn. Today, former Wirecard executives Dietmar Knoechelmann and Ruediger Trautmann have positioned their German-Cyprus Payabl Group as one of the leading payment processors for the adult industry, according to Similarweb analytics. From Wirecard and PowerCash21 to Payabl The Payabl Group Payabl is a payment institution regulated by the Central Bank of Cyprus and operates as a principal member of VISA and MasterCard.…
As part of our Wirecard Legacy investigation, we have been researching high-risk payment processors catering to the porn industry. Wirecard was previously one of the key processors for the MindGeek empire, which owns YouPorn and PornHub. Additionally, major adult platforms like xHamsterLive and StripChat are operated by Technius Ltd, a company registered in Cyprus. One of the primary payment processors for these platforms is Epoch. We are looking for more information about its operations. Key Data Buying Porn Tokens with Epoch Epoch is a key payment facilitator for Technius Ltd. Platforms like StripChat and xHamsterLive are live cam sites attracting…
Until 2021, the Bank of Cyprus-regulated payment institution Payabl operated under the name PowerCash21. This high-risk payment processor, founded by former Wirecard executives Dietmar Knoechelmann and Ruediger Trautmann, specializes in porn, gambling, and online trading. According to Similarweb analytics, one of Payabl’s apparent clients is the offshore broker VT Markets. Notably, in August 2021, the Spanish regulator issued a warning against VT Markets. Payabl and VT Markets Similarweb Statistics for VT Markets Payabl appears to operate a hosted payment processing server under the subdomain:➡ https://pay4.powercash21.com Similarweb analytics show that nearly 18% of VT Markets’ 140,000+ monthly visitors access the website…