Call for Whistleblowers: Uncovering the Truth Behind CASHlib and ByPin Prepaid Voucher Schemes!

tamir
Sun, 23 Jun 2024 15:28:12 +0000
High-risk payment processors, Illegal Payment Services, ticker, Whistleblower, Atlantis Slots, Berry Solutions, ByPin, CASHlib, Fenix Technology, Helen Varnava, Prepaid Optimal Solutions, Sureswipe EMI

Recent investigations by FinTelegram have revealed that CASHlib, a prepaid voucher service related to the Maltese Berry Solutions Ltd the the Cyprus E-Money Institution Sureswipe EMI PLC, is acting as a facilitating payment processor for the illegal online casino and gambling scheme Atlantis Slots. The CASHlib scheme enables users to make anonymous payments to high-risk merchants. CASHlib is related to ByPin, another prepaid voucher scheme. We would like to learn more.

CASHlib Key Issues:

While this prepaid voucher service offers convenience and anonymity, several critical issues have come to light.

1. Opaque Ownership and Licensing:

Berry Solutions Limited, a Maltese payment orchestrator, owns the domain name CASHlib.com and tradename CASHlib. However, Berry Solutions‘ website does not disclose any relationship with CASHlib, raising questions about the scheme’s legitimacy.

The domain and tradename CASHlib are licensed to multiple entities, including Sureswipe EMI PLC and sites E-Money Distributors (EMD) Fenix Technology SAS (FENIX), and Prepaid Optimal Solutions SA (POS). Notably, Sureswipe EMI PLC, operating as Revsto, fails to mention CASHlib on its website, it is not included in its list of products and services.

2. Additional Concerns with ByPin:

Berry Solutions also owns the domain ByPin.com and the trademark ByPin, another prepaid voucher scheme. These assets are similarly licensed to Sureswipe EMI PLC and Fenix Technology SAS (FENIX), yet neither Sureswipe EMI nor Berry Solutions disclose this information on their websites. Additionally, company names are misspelled on these sites, which could indicate either intentional deception or oversight.

3. Compliance and Regulatory Gaps:

According to the terms, CASHlib is operated by Sureswipe E.M.I PLC, an e-money institution authorized by the Central Bank of Cyprus. However, the lack of transparent information about CASHlib’s operational approach and structure poses significant compliance concerns.

Sureswipe EMI is active as a Revsto and, under CEO Helen Varnava, offers e-money services to private customers and entrepreneurs.

4. Customer Feedback:

As of June 23, 2024, CASHlib has not claimed its Trustpilot profile and holds a 2-star rating with a poor trust level based on 19 reviews.

5. Association with High-Risk Industries:

CASHlib serves high-risk industries, including online gaming, gambling, and entertainment. It is specifically mentioned in reviews related to the illegal online casino Atlantis Slots, which operates without a valid gambling license in the EEA. This association with unlicensed platforms highlights significant compliance and legal concerns.

Key Data CASHlib and ByPin

Related trading names

CASHlib
ByPin
Revsto

Business activity | Prepaid voucher schemes

Related domains

https://www.cashlib.com
https://www.bypin.online
https://berrysolutions.com
https://revsto.com

Related legal enties

Berry Solutions Limited (Malta)
Sureswipe EMI PLC (Cyprus)
FENIX Technology SAS (France)
Prepaid Optimal Solutions SA (Luxembourg)

Related individuals | Helen Varnava
Jurisdictions | Malta, Cyprus, France, Luxembourg

Authorization

Sureswipe EMI PLC authorized as EMI by
the Central Bank of Cyprus

Compliance rating | Red

Conclusion:

Given the involvement of CASHlib in potentially illegal online casino activities and its opaque operational structure, FinTelegram has placed CASHlib on our Red Compliance list and Orange Risk list. This categorization indicates a high level of user risk and necessitates caution for anyone considering transactions with CASHlib.

Call to Action:

We seek additional information from insiders about the CASHlib and ByPin schemes and their operators. Your insights could help clarify the legitimacy and compliance of these services. If you have any relevant information, please contact us confidentially.