Scam

GumBallPay Review: Financial Scam Exposed

[REDACTED] always tries to update its database with new or newly discovered individuals and legal entities. A strategic focus is placed on payment processors in this context. Recently we discovered the offshore payment processor GumBallPay facilitating the BitOptionFX broker scam. We would like to learn more about GumBallPay, its beneficial owners, and the network.

GumBallPay Cyprus Scam: How It Works

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In a first quick OSINT analysis, we have already established that

  • no names of individuals and/or no social media accounts are connected with the offshore payment processor;
  • GumBallPay processes payment of broker scams like BitOptionFX and has been able to confirm this with a test transaction;
  • the payment processor has Israeli roots. The graphic design of the website was made by the Israeli agency Tomer Art (www.tomerart.co.il) of Tomer Yizraeli. As the website is in Hebrew and addresses potential Hebrew clients only we conclude that GumBallPay is beneficially owned by Israeli FinTech guys. By the way, we think the design is really well done;
  • the payment platform GumBallPay (www.gumballpay.com) is operated by Pulaski Publicity Ltd, registered on the St. Vincent & the Grenadines. On another website (www.pulaski.website), this company bills itself as a marketing and SEO company;
  • the company is registered with notorious company builders Wilfred Services Ltd in SVG where dozens of scam operators are registered.
  • GumBallPay has focused on the high-risk segments gaming, forex, and esports, says the website, and therefore high-risk merchant accounts are offered. In the case of BitOptionFX, the offshore payment processor goes one step further and handles illegal transactions for Forex scammers.

Are You A GumBallPay Scam Victim? Here’s What You Can Do:

We would like to know more about GumBallPay. Please share your experience and information about our whistleblower system with [REDACTED].

GumBallPay Review Summary:

I can provide you with an expanded explanation of the situation regarding GumBallPay and its association with the BitOptionFX broker scam.

GumBallPay is an offshore payment processor that has come under scrutiny due to its involvement in facilitating the BitOptionFX broker scam. This raises concerns about the legitimacy and ethical practices of GumBallPay as a financial intermediary. In response to these concerns, efforts have been made to update the database of individuals and legal entities involved in financial transactions, with a particular focus on payment processors like GumBallPay.

Understanding the beneficial owners and the broader network of GumBallPay is essential to assess the extent of its involvement in fraudulent activities. Beneficial owners are individuals or entities that ultimately control and benefit from a company or organization. Identifying these owners can shed light on the motivations and intentions behind GumBallPay’s actions.

To uncover more information about GumBallPay, its beneficial owners, and its network, several investigative steps can be taken:

  1. Background Research: Begin by conducting a comprehensive background check on GumBallPay. This can involve gathering publicly available information such as its corporate records, registration details, and any known affiliations.
  2. Financial Transactions Analysis: Examine the financial transactions and flow of funds through GumBallPay. This can help trace the source of funds and identify any suspicious or irregular activities.
  3. Regulatory Compliance: Review whether GumBallPay complies with relevant financial regulations and anti-money laundering (AML) laws. Any lapses or violations in compliance may indicate potential wrongdoing.
  4. Collaboration with Authorities: Work closely with law enforcement agencies, financial regulators, and other relevant authorities to share information and insights about GumBallPay’s involvement in fraudulent schemes.
  5. Cybersecurity Analysis: Investigate any digital trails or cybersecurity vulnerabilities associated with GumBallPay. This may reveal clues about its connections with criminal organizations or fraudulent schemes.
  6. Whistleblower Reports: Consider reaching out to whistleblowers or individuals with inside knowledge of GumBallPay’s operations. Whistleblower reports can provide valuable information about the company’s practices.
  7. Legal Action: If there is substantial evidence of illegal activities, legal action may be pursued against GumBallPay and its beneficial owners. This can involve filing complaints, initiating investigations, and working towards potential sanctions or penalties.

In conclusion, the discovery of GumBallPay’s involvement in facilitating the BitOptionFX broker scam underscores the importance of conducting a thorough investigation to reveal its beneficial owners and network. This information is crucial for assessing the extent of its involvement in fraudulent activities and taking appropriate actions to mitigate risks and protect the interests of individuals and businesses involved.

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