payswix

Key Data

• Trading Name: payswix
• Legal Entity: GlobalNetint UAB (GNI)
• Activities: e-Money Institution
• Location: Lithuania/Israel
• Regulations: Bank of Lithuania Authorization code LB000434
• Key People: Gil Trif, Israel Nissan Trif, Israel Yishay Moshe Trif, Israel Raphael Yehudah Golan, UK Liudvikas Kulikauskas, Lithuania
• Related with: MoneyNetInt Ltd, regulated by the UK FCA

Offering

The regulated Lithuanian-Israeli e-Money Institution GlobalNetInt (GNI) is doing business as payswix. This regulated high-risk payment processor used to be a notorious scam facilitator in the binary options, forex, CFD, and crypto segment. Moreover, payswix is serving the online gaming and gambling industry. payswix is part of the FCA-regulated Israeli MoneyNetInt Group.

payswix is part of the MoneyNetint Group (PC42 profile).

payswix offers IBAN accounts for individuals and merchants, e-wallets, and prepaid cards. Additionally, payswix runs an Agency Program offering unregulated payment processors to work under its license.

News

In 2020 and 2021, payswix had massive problems with money laundering and the systematic facilitation of broker scams and illegal gambling. Insiders have provided FinTelegram with information confirming these compliance issues. The compliance team at the time had left payswix; the Lithuanian law enforcement agencies investigated the situation. In June 2021, the Bank of Lithuania imposed a fine on paysxiw and a temporary restriction on its activities.

Until at least Q3 2021, the shareholders of FCA-regulated MoneyNetInt, Golan Holdings Ltd and Triff Holdings Ltd, were also the majority shareholders of GlobalNetInt UAB (now Payswix UAB) in Lithuania. While MoneyNetInt had to restrict its onboarding of new clients after discussions with the FCA, this Lithuanian EMI had money laundering problems and was fined €350,000 by the Bank of Lithuania.

The company’s Lithuanian CEO, Liudvikas Kulikauskas, is also a GNI shareholder. He and his wife Egle Kulikauskiene used to run the payment processor Ifind MB d/b/a Findiban (www.findiban.com), which was positioned as a high-risk payment processor, offering businesses a range of financial services, including SEPA IBAN account, white-label FinTech services, or credit card processing. Upon FinTelegram reports, Findiban vanished.

Conclusion

Due to deep involvement in broker fraud as a payment processor, as a part of MoneyNetint Group, we have added MoneyNetint to our “Red Compliance” list.