Payment Processors, Casinos, and Gambling
Payment processors are of crucial importance for online casinos and online gambling. In recent years, we have seen a trend towards payment with cryptos. This is also because they are simpler and more anonymous for operators. In many cases, we have noticed that regulated payment processors also process payments for unlicensed online casinos and gambling platforms, thereby facilitating their illegal activities.
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It should be made clear here that a Curacao license is not sufficient to offer online casinos, betting, and gambling in the UK, Europe, and North America. Nevertheless, Curacao licensees acquire and accept customers from these jurisdictions. Their payment processors also have no problem processing payments from customers from regulatory regimes in which the operators do not have a license and are, therefore, operating illegally. This means the payment processors have a problem and are caught in the money laundering trap.
Both the online casino providers and the payment processors know very well that they are violating the laws and regulations. This is why they set up payment agents in Cyprus, for example, and disguise the recipients of players’ payments as legitimate transactions. The lawyers, tax consultants and company builders in Cyprus make a lot of money with the companies with Curacao licenses and promote the circumvention of laws accordingly.
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Offshore licensed casinos and their so called payment processors/agents jointly with some high risk payment processors are involved in ml, tf and other fraudulent activities. Fake ubo-s , scams, fake corporate documents,ml in huge amounts, sanctions breaches etc. The footprints are exactly the same as we saw during ml cases in offshore banking sector in early 2000 (Danske, Deutche and others)
Vera interesting subject. Many offshore gambling companies use these deceptive practices, seemingly without any apparent consequences, even though it’s against the rules of both Visa and MasterCard. Frankly speaking, it feels meaningless for Visa and MasterCard to have the merchant code system if it is so easy to circumvent. This is something that should be brought up on a higher politicsl level. Country based license systems and responsible gambling systems are basically obsolete since European banks will still approve these kind of transactions
Look into gumballpay
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Do you know them: PayP Ltd or payprivate.com?
Payabl / Worldline
But the main problem are the fake merchants from Estonia to Nigeria, over Uzbekistan to the UK
Time’s running out for a group masquerading as polished pros but are knee-deep in dodgy dealings. Their game? Peddling faux storefronts that dazzle with a veneer of veracity while secretly serving as conduits for unlawful online casino cash flows.
Spotlight’s on
https://gts.vc/– decked out as a cutting-edge venture firm, but I’m betting my bottom dollar it’s a bluff. This supposed paragon of tech enterprise could well be a trojan horse for illicit gambling transactions, making mugs of the masses and mocking the market’s mores.And the ringleader? A CEO, ostensibly steering this ship with a LinkedIn page as their flag:
https://www.linkedin.com/in/maksimterekhov. But is it all just a facade?It’s high time we call their bluff. We need eagle eyes and sharp minds to unravel this web and shield the unsuspecting from their schemes. Let’s not let these charlatans cash in on chaos. It’s our call to arms – to vet, verify, and vanquish these violators of virtue and legality.
Consider this your clarion call. Rally to the cause and let’s bring the curtain down on this act of deception.
Anonymously sounding the alarm,
A concerned netizen
If anyone has any information on PayOP and how to report them, please let me know.
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