ePayments is gone!
- Thread starter dimar
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And, it's not a guaranteed thing that Financial Ombudsman would be helpful. I have had a terrible experience with a Payment Processor in EU and I contacted FO; and Financial Ombudsman told me after 5 months that they can't help as the Payment Processor can hold money as per their policies.
We can't win from these crap companies as they can just claim that they mentioned all such rights in their policies.
We can't win from these crap companies as they can just claim that they mentioned all such rights in their policies.
Processors can hold funds for a long time for “compliance reasons” sometimes clarified in the T&C’s before opening an account or working with any payment processor check the T&Cs that you’re signing so you are aware of what type of boat you are boarding
It's scary but your absolutely right. I pointed out one of their T&C's which could result in your money being legally stolen below.
https://www.offshorecorptalk.com/th...e-a-hidden-agenda-be-warned.27167/post-111211
https://www.offshorecorptalk.com/th...e-a-hidden-agenda-be-warned.27167/post-111211
Even in that case, if someone really read all the T&C then there is always on term "they can change/update their policies with or without notification to clients".
So, honestly speaking, we just can be 100% safe with such craps. They always keep there backdoors open for legally stealing money or using funds by blocking clients︀ funds under the name of account "review"
So, honestly speaking, we just can be 100% safe with such craps. They always keep there backdoors open for legally stealing money or using funds by blocking clients︀ funds under the name of account "review"
Epayments stay silent. Their last communication is dated from 1 week ago. Now, there is radio silence. This means this is way more serious that it looked at the beginning. Epayments stopped communicating on twitter. There is obviously a problem.
If they reactivate I think that lots of people will take their money out and it will get bankrupt.
If they reactivate I think that lots of people will take their money out and it will get bankrupt.
sorry to hear your experience, i wanted to comment on the image you have posted for epayments office ,unfortunately some of your opinions are based on emotions and lacking experience....but seriously ? other forum members including me highlighted epayments problems and︀ transparency with customers long time ago they are more of criminals more than anything else︁ .... couple of years ago people had crises not accessing funds in choicebank and some︂ emi was involved , it's totally bad idea to leave +1000 usd in any emi︃ in the present time, Epayments is one of worse emi's you can't expect much from︄ such emi with russian management .
Looks very much like the original poster of this thread ePayments may have a hidden agenda, be warned. said the truth at some point.
His prediction of a operation which is driven by Russian with zero understanding on solving problems holds water.
His prediction of a operation which is driven by Russian with zero understanding on solving problems holds water.
OneCoin at the heart of ePayments Systems shutdown?
ePayments Systems is one of the UK’s largest digital payments companies.
Well, it was… until the FCA unexpectedly shut it down on February 11th.
Along with the shutdown came a freeze order, trapping what is believed to be over £100 million in client funds.
Oh, and did I mention there’s an extremely interesting tie to OneCoin?
To date both the FCA and ePayments Systems have been coy on the shutdown.
On February 11th ePayments Systems published a “lulz your funds are safe” message to their website.
On the February 11, 2020 ePayments Systems Limited (‘ePayments’) agreed with︀ the Financial Conduct Authority (‘FCA’) to suspend all activity on its customer accounts.
This decision︁ was taken following a review, by the FCA, of ePayments anti-money laundering systems and controls,︂ which identified weakness that required remediation.
We know this will be a very frustrating time︃ for our customers. We apologise for any inconvenience caused and are working tirelessly to ensure︄ improvements are made and accounts can be reactivated as soon as possible.
During this improvement︅ process, we want to assure customers that their funds are being safeguarded as normal.
I’ll give you a moment to recover from the shock of a UK regulator actually regulating.︆
…
To the best of my knowledge the FCA itself has yet to issue a︇ public statement. It’s all very secretive but we do know the shutdown is related to︈ money laundering.
The FCA’s directory listing for ePayments Systems says the company must
refrain from︉ providing account information services or payment initiation services for an indefinite period.
The message on︊ ePayments Systems website is supposed to inform its clients it is “no longer conducting business.︋
The company is also banned from signing up new clients, or doing business with corporations︌ or individuals.
Basically it’s over.
One of ePayments Systems’ Directors is Robert Courtneidge. Or was,︍ following his resignation on February 17th.
According to ePayments Systems’ Companies House data, Courtneidge (right)︎ was appointed in July 2018.
I’ll give you another moment to recover from the shock️ of a non-fraudulent Companies House incorporation.
…
When the Financial Times approached Courtneidge for comment, he told them he “was not legally able to comment on the company”.
Interesting.
Prior to being appointed a ePayments Systems Director, Courtneidge was Global Head of Cards and Payments for the law firm Locke Lord.
In January 2018 Courtneidge left Locke Lord to sign on as CEO of Moorwand, another payment processor.
Courtneidge’s appointment as an ePayments Systems Director took place six months later in July.
Locke Lord meanwhile, is the same law firm who in the UK counted OneCoin founder Ruja Ignatova as a client.
Two months before Courtneidge was appointed CEO of Moorwand, Ruja Ignatova disappeared.
She is believed to have escaped︀ with a fortune in laundered OneCoin investor funds.
Part of the fallout of Ignatova’s disappearance︁ recently played out in the US legal system.
In November 2019 Mark Scott was convicted︂ on charges related to the laundering of over €400 million for Ignatova.
That money is︃ still unaccounted for.
Robert Courtneidge worked closely with Mark Scott to launder OneCoin funds.
His name came up frequently during Scott’s trial, as reported by FinTelegram quoting exhibits provided by︄ the Inner City Press;
InnerCityPress (@InnerCityPress on Twitter) has recently published screenshots of emails on︅ Twitter which show that Ruja Ignatova apparently sent her emails regularly to Mark S. Scott︆ and Robert Courtneidge.
Mark S. Scott apparently defends himself to the U.S. prosecutor by claiming︇ that his colleague at Locke Lord, Robert Courtneidge, was also involved in and approved the︈ OneCoin transactions.
In order for Courtneidge to be appointed a non-executive Director of ePayment Systems︉ in January 2018, presumably there had to have been some sort of working relationship.
Did that relationship involve laundering vast amounts of money for Ruja Ignatova, in Courtneidge’s capacity as︊ Locke Lord’s Global Head of Cards and Payments, through ePayment Systems?
And is that behind︋ the FCA now shutting down ePayments Systems indefinitely over money laundering concerns?
Financial Times approached︌ Robert Courtneidge about his connections to OneCoin. he told them he was unable to comment.︍
Locke Lorde and ePayments Systems both failed to reply to Financial Times’ requests for comment.︎
In any event, if all of the above checks out, the next point to ponder️ is whether any of Ignatova’s stolen fortune is still tied up in ePayments Systems.
Or at the very least whether their records can be used to track where Ignatova’s funds went, potentially even leading to the wanted fugitive herself.
ePayments Systems is one of the UK’s largest digital payments companies.
Well, it was… until the FCA unexpectedly shut it down on February 11th.
Along with the shutdown came a freeze order, trapping what is believed to be over £100 million in client funds.
Oh, and did I mention there’s an extremely interesting tie to OneCoin?
To date both the FCA and ePayments Systems have been coy on the shutdown.
On February 11th ePayments Systems published a “lulz your funds are safe” message to their website.
On the February 11, 2020 ePayments Systems Limited (‘ePayments’) agreed with︀ the Financial Conduct Authority (‘FCA’) to suspend all activity on its customer accounts.
This decision︁ was taken following a review, by the FCA, of ePayments anti-money laundering systems and controls,︂ which identified weakness that required remediation.
We know this will be a very frustrating time︃ for our customers. We apologise for any inconvenience caused and are working tirelessly to ensure︄ improvements are made and accounts can be reactivated as soon as possible.
During this improvement︅ process, we want to assure customers that their funds are being safeguarded as normal.
I’ll give you a moment to recover from the shock of a UK regulator actually regulating.︆
…
To the best of my knowledge the FCA itself has yet to issue a︇ public statement. It’s all very secretive but we do know the shutdown is related to︈ money laundering.
The FCA’s directory listing for ePayments Systems says the company must
refrain from︉ providing account information services or payment initiation services for an indefinite period.
The message on︊ ePayments Systems website is supposed to inform its clients it is “no longer conducting business.︋
The company is also banned from signing up new clients, or doing business with corporations︌ or individuals.
Basically it’s over.
One of ePayments Systems’ Directors is Robert Courtneidge. Or was,︍ following his resignation on February 17th.
According to ePayments Systems’ Companies House data, Courtneidge (right)︎ was appointed in July 2018.
I’ll give you another moment to recover from the shock️ of a non-fraudulent Companies House incorporation.
…
When the Financial Times approached Courtneidge for comment, he told them he “was not legally able to comment on the company”.
Interesting.
Prior to being appointed a ePayments Systems Director, Courtneidge was Global Head of Cards and Payments for the law firm Locke Lord.
In January 2018 Courtneidge left Locke Lord to sign on as CEO of Moorwand, another payment processor.
Courtneidge’s appointment as an ePayments Systems Director took place six months later in July.
Locke Lord meanwhile, is the same law firm who in the UK counted OneCoin founder Ruja Ignatova as a client.
Two months before Courtneidge was appointed CEO of Moorwand, Ruja Ignatova disappeared.
She is believed to have escaped︀ with a fortune in laundered OneCoin investor funds.
Part of the fallout of Ignatova’s disappearance︁ recently played out in the US legal system.
In November 2019 Mark Scott was convicted︂ on charges related to the laundering of over €400 million for Ignatova.
That money is︃ still unaccounted for.
Robert Courtneidge worked closely with Mark Scott to launder OneCoin funds.
His name came up frequently during Scott’s trial, as reported by FinTelegram quoting exhibits provided by︄ the Inner City Press;
InnerCityPress (@InnerCityPress on Twitter) has recently published screenshots of emails on︅ Twitter which show that Ruja Ignatova apparently sent her emails regularly to Mark S. Scott︆ and Robert Courtneidge.
Mark S. Scott apparently defends himself to the U.S. prosecutor by claiming︇ that his colleague at Locke Lord, Robert Courtneidge, was also involved in and approved the︈ OneCoin transactions.
In order for Courtneidge to be appointed a non-executive Director of ePayment Systems︉ in January 2018, presumably there had to have been some sort of working relationship.
Did that relationship involve laundering vast amounts of money for Ruja Ignatova, in Courtneidge’s capacity as︊ Locke Lord’s Global Head of Cards and Payments, through ePayment Systems?
And is that behind︋ the FCA now shutting down ePayments Systems indefinitely over money laundering concerns?
Financial Times approached︌ Robert Courtneidge about his connections to OneCoin. he told them he was unable to comment.︍
Locke Lorde and ePayments Systems both failed to reply to Financial Times’ requests for comment.︎
In any event, if all of the above checks out, the next point to ponder️ is whether any of Ignatova’s stolen fortune is still tied up in ePayments Systems.
Or at the very least whether their records can be used to track where Ignatova’s funds went, potentially even leading to the wanted fugitive herself.
Here is also an interesting article from the Financial Times about Epayments:
https://ftalphaville.ft.com/2020/02...going-on-at-e-money-firm-ePayments-Systems--/
https://ftalphaville.ft.com/2020/02...going-on-at-e-money-firm-ePayments-Systems--/
I thought about something. I looked into the Epayments terms and I don't find any licence in the Eurozone. All other UK EMI's have a European licence. For example, Revolut has a lithuanian Licence. Epayservice has a Malta Licence.
WIll Epayments be able to continue in a post brexit era?
WIll Epayments be able to continue in a post brexit era?
yes we hold all the papers ) .your suggestions are always great ! thank you. is pooled account same as white label solution ? they also process credit cards wondering what would the settlement timeframe be
Not sure what to think...
Sounds like something︈ called EFRI actually caused this as some sort of revenge against this guy.
If there is problem with some merchants,️ it doesn't make sense to block everyone. If there is a problem with Danish bank, don't block a British EMI...
Sounds like something︈ called EFRI actually caused this as some sort of revenge against this guy.
If there is problem with some merchants,️ it doesn't make sense to block everyone. If there is a problem with Danish bank, don't block a British EMI...
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