Scam Charges on MoneyNetInt LTD? (2024)

Originally Syndicated on February 22, 2024 @ 5:13 am

Businesses can take advantage of the international payment solutions offered by MoneyNetInt LTD, which is a corporation that handles financial services. The Financial Conduct Authority (FCA) has granted it permission to operate following the Electronic Money Regulations 2011, and its headquarters are located in London, England. 

MoneyNetInt LTD: FCA-Controlled Electronic Money Organization with a Complicated Past 

Founded in 2003, MoneyNetInt is a certified e-money Institution (EMI) under the Financial Conduct Authority (FCA) that has become a major supplier of international payment solutions. It started as a modest family project but has now expanded to become a significant participant in the market, facilitating annual transactions valued at billions of dollars. Leading the charge were Yishai Trif, Gil, Nissan, and Raphael Golan, all Israelis, who helped MoneyNetInt grow greatly over time.

Together with local partner Luidvikas Kulikauskas, the MoneyNetInt Group expanded its operations in 2017 with the establishment of GlobalNetInt UAB, which operates in Lithuania under the payswix brand. MoneyNetInt’s dedication to global financial services was demonstrated by this endeavor, which was approved as an EMI by the Bank of Lithuania.

In addition to commercial and personal IBAN accounts, MoneyNetInt also offers debit cards, SEPA payments, credit card processing, multi-currency e-wallet management, and tailored payment options for businesses. Further bolstering its standing in the financial world is its strategic alliance with Ripple, one of the biggest names in cryptocurrencies.

MoneyNetInt has faced difficulties despite its success. There are worries that it may have assisted in money laundering operations because of its connection to the Vienna Cybercrime Trials, which featured convicted con artist Gal Barak. A voluntary pause of new customer onboarding was implemented by MoneyNetInt in early 2021 to strengthen compliance controls in response to regulatory concerns that the company was having with the UK Financial Conduct Authority.

Moreover, through at least Q3 2021, the majority of shares in GlobalNetInt UAB (now Payswix UAB) were owned by MoneyNetInt’s shareholders, Golan Holdings LTD and Triff Holdings Ltd. But GlobalNetInt UAB was not without its problems. For example, the Bank of Lithuania fined the company a substantial amount due to suspicions of money laundering.

Modifications to financial regulations, like the prohibition on trading binary options, have affected MoneyNetInt’s commercial activities. Its placement under the “Red Compliance” category, which reflects worries about its role in fraudulent financial operations, is a result of its involvement in broker scam payment processing.

In conclusion, there have been both challenges and successes throughout MoneyNetInt’s journey from a family-run business to a provider of international payment services. Its wide range of partnerships and services show how well-known the company is, but its associations with controversy highlight how crucial it is to carefully examine its compliance and business procedures.

Yeisha Trif: The CEO of MoneynetInt LTD 

Chief Executive Officer Yishay Trif is in charge of MoneyNetInt LTD, a well-known fintech business that specializes in expediting payment procedures. MoneyNetInt provides a broad array of services designed to satisfy various financial requirements.

MoneyNetInt’s primary competency is payment facilitation, with seamless solutions catered to both consumers and enterprises. One noteworthy feature that helps consumers execute overseas transactions more easily and efficiently is the availability of Designated Overseas Bank Account Numbers (IBANs).

With its advanced technologies that automate the processing of high transaction volumes and guarantee quick and secure fund transfers, MoneyNetInt is also a great choice for Automated Clearing House (ACH) transactions. This is especially useful for firms that regularly process big volumes of transactions.

When it comes to card-based transactions, MoneyNetInt is well-known for its expertise in Credit Card Processing. It provides a dependable platform that allows businesses to easily incorporate credit card payments into their daily operations, improving customer satisfaction and generating additional money.

Furthermore, MoneyNetInt offers people a practical substitute for conventional bank accounts by meeting the increasing demand for Prepaid Debit Cards. Because of the company’s experience, these cards are issued and managed with the highest security and effectiveness.

Additionally, MoneyNetInt makes Cash Pay-outs possible, giving people an easy way to get money for a variety of uses while guaranteeing a simple, safe, and easy-to-use procedure.

MoneyNetInt, under the direction of Yishay Trif, has made a name for itself in the fintech sector by providing trustworthy and inventive financial solutions to both individuals and companies.

In response to recent claims that it was involved in binary options scams, MoneyNetInt has insisted that it is a reputable payment processor and has denied any wrongdoing. Regulators from several nations are conducting investigations into it, and victims have filed lawsuits against it. If binary options scams have impacted you, think about reporting the incident to MoneyNetInt or getting in touch with your bank or credit card company to see if there are any possible legal remedies. It’s critical to comprehend the dangers involved in trading binary options and to do extensive study before investing.

The following advice can help you avoid falling victim to binary options scams:

1. To guarantee adherence to industry norms and laws, only invest with authorized binary options companies.

2. Depositing money with businesses you don’t trust or have faith in should be avoided since it could put your capital at risk.

3. Be wary of businesses that promise profits, as these are frequently signs of dishonest business practices.

4. Go through the terms and conditions of any contracts or agreements carefully to make sure you understand the risks and repercussions before signing.

5. Report any suspicions you may have had of being a victim of a binary options scam to the appropriate authorities right away. For additional inquiry and possible legal action, you can report the occurrence to regulatory agencies like the Securities and Exchange Commission (SEC) in the US or the Financial Conduct Authority (FCA) in the UK.

How Can You Recover Your Money from MoneyNetInt? 

There are actions you can do to possibly reclaim your money if you were duped into falling for a binary options scam and used MoneyNetInt to process your payment:

1. Contact MoneyNetInt’s customer care division to begin the process of filing a complaint. Describe the scam in great detail, mentioning the transaction details, the name of the binary options company, and the amount lost.

2. Keep a record of any correspondence with MoneyNetInt regarding your grievance.

3. Take into consideration filing a lawsuit against MoneyNetInt if the corporation ignores your complaint or refuses to issue a refund.
4. As an alternative, consider charging back the purchase to your bank or credit card company. If the transaction is contested as fraudulent or unlawful, the disputed amount may be refunded.

5. Get in touch with your bank or credit card company and provide them with the details they need to look into the scam to initiate a chargeback.

6. It can be difficult to get your money back from a binary options fraud, but help is out now. To obtain compensation for your losses, make use of the tools at your disposal and take the appropriate legal action.

Trustpilot reviews for MoneyNetInt LTD appear to be fraudulent: 

Trustpilot rates MoneyNetInt LTD Excellent. Customers rate the business 4.8 stars out of 5. The company is Trustpilot-verified. 

Reviews left by clients on Trustpilot:

#1. The customer had a payment issue 

1. In his account of his experience with PayTicket, Midodzi Tay highlights how quickly they give up when faced with payment difficulty. When Tay got a parking ticket in Amsterdam, the issuer didn’t give her enough information, so she had trouble paying the fine. PayTicket tried to fix the problem despite Tay’s efforts but was unable to, and Tay’s money was returned a month later as a result of payment processing issues. Tay persisted and took independent action to settle the dispute by paying the fine. He believes that PayTicket might increase customer happiness by showing more perseverance in overcoming setbacks rather than giving up quickly.

#2. Best Customer Support!

Mayur emphasizes how important customer service is and how it influences his decision on which service providers to use. Even though the services provided by several platforms could be comparable, Mayur points out that Moneynetint stands out due to its outstanding customer assistance. In his experience, Moneynetint offers unmatched support, quickly resolving any issues he runs into in a matter of minutes. Mayur emphasizes that this excellent caliber of service completely satisfies his expectations for the service and the provider he chooses.

#3. It’s a lifesaver service!

Crazy Traveler calls the service “a lifesaver,” highlighting its exceptional responsiveness and ease of use in resolving his Italian ticket issues. Although Italy is a fantastic place to visit, Crazy Traveler takes issue with local governments’ propensity to depend on tourism to fund their cities.

Conclusion

A complicated business with a complicated past, MoneyNetInt is a company. Although the organization possesses several strengths, it is also confronted with several serious obstacles. Before engaging in any transactions, people and businesses who utilize MoneyNetInt should carefully consider the potential risks and benefits of using the platform.