Newly Uncovered Unauthorized Payment Processors in Fraudulent Broker Operations

Overview: Tracing the Financial Facilitators of Investment Scams

Scam-Or Project recently initiated a campaign aimed at identifying unregulated and unauthorized payment service providers (PSPs) involved in processing funds for unlicensed broker platforms such as XTraderFX, SafeMarkets, Golden Markets, Option888, and XMarkets. These payment facilitators play a key role in enabling fraudulent schemes by assisting in financial transactions that deceive unsuspecting investors. Within hours of the campaign’s launch, a substantial number of reports were submitted highlighting these questionable financial intermediaries.

List of Newly Identified High-Risk Payment Service Providers

The following table outlines PSPs that were most recently reported for handling bank transfers on behalf of unauthorized brokers. Notably, most are entities registered within the European Union and appear to operate through financial institutions primarily based in Germany and Hungary. Investors are strongly advised not to send any funds to or through the following accounts or companies:

Action by BaFin: Refund Mandate to StronIT

According to reports received, Germany’s financial supervisory authority BaFin has formally instructed StronIT, a PSP operating without proper authorization, to return outstanding balances to victims associated with various broker scams. Scam-Or Project has contacted BaFin directly for further clarification and public comment on the decision.

Call for Further Information

If you have knowledge of a payment processor currently collaborating with or enabling unauthorized broker websites, we encourage you to report this information to the ongoing Scam-Or Project initiative. Identifying and exposing these enablers is a critical step toward investor protection and legal accountability.