Key Data

• Trading Name: Perfect Money
• Legal Entity: Research & Investments LTD
  Perfect Money Finance Corp
• Activities: anonymous Russian e-payment system
• Location: British Virgin Islands
• Regulations: unregulated

Perfect Money (PM) is an anonymous Russian e-payment system created in 2007. It allows merchants to accept funds for their products and services anonymously. Consumers can send their funds to other Perfect Money clients. Clients do not have to be verified. However, clients have to be verified voluntarily to use certain features such as bank wire deposits and earn a trust level.

Offering

Clients can fund their accounts via other PM accounts or via e-vouchers, cash deposits via partners such as WealthPay or ExWallets, or in BTC via selected crypto exchanges such as Mine.Exchange (PC42 profile). that act as PM partners. None of these crypto exchanges are regulated. Many of them are downright obscure, like Minex Exchange or MChange.

For the voluntarily verified customers, bank transfers and taking loans from lenders via the PM Credit Exchange are also possible. Borrowers pay usurious interest rates of up to several hundred percent per day. On Feb 14, 2022, more than 77,000 loan requests were on the list. A huge business, it seems.

Unverified PM Clients can become lenders and either accept a loan request or submit a loan offer.

Additionally, Perfect Money offers e-vouchers to make payments anonymously. The recipient will receive the e-voucher number and activation code via a text message (SMS).

Allegedly, Research & Investments LTD, registered in the British Virgin Islands, is the PM shareholder. Other companies related to Perfect Money are purportedly Perfect Money Finance Corp,  registered in Panama. The headquarters and operating service are allegedly based in and in Hong Kong. We have not been able to verify any of these claims.

Compliance Problems

Payments are made anonymously between the  PM accounts. The sender of funds will not be disclosed to the receiving party. Such anonymous payments have long been banned in the traditional payment world. There are no KYC/AML checks.

Perfect Money has been and still is integrated as a payment option in many unregulated crypto exchanges.

For many years, Perfect Money has been notorious as a facilitating payment processor and money laundering platform for scammers, Ponzi schemes, and cybercrime organizations. Moreover, most of the activities offered by Perfect Money are regulated financial services, which would require regulatory permission.

Conclusion

We have included Perfect Money in our “Red Compliance” list.