Payza is not the first, nor the last.
I think many of them carry out some suspicious activities, not to say illegal, some permament some occasional until they got caught. Of course everything should yet to be proved and evidence processed but still it's the red alert for dishonest business.
Topic: Payza Faces Major Money Laundering Charges in the US (Read 335 times)
I'm really shocked to see news that Payza involved in money laundering. I always thought they are serious and trusted company, something like a good alternative to PayPal.
Now I see that they started to use new domain Payza.eu and we can access our accounts. I have only few bucks there, I'm not sure is it worth to withdraw it now.
P.S. Someone mentioned possible connections between Payza and Egopay scam. Well, I heard similar talks when Egopay was still alive.
Now I see that they started to use new domain Payza.eu and we can access our accounts. I have only few bucks there, I'm not sure is it worth to withdraw it now.
They were trusted because a lot of PTC sites used them as well as HYIP sites, both industries are extremely shady. But if they were operating in the US without a license then they were just calling for this to happen honestly, especially with their association with PTC and HYIP sites which Paypal refuse to work with.
You're right about PTC websites, many of them used Payza. But I haven't saw many HYIP's which was using Payza. If I remember correctly, Payza allows chargebacks, so it's not good option for HYIP owners. Perfectmoney is prefered payment proccessor among HYIP and PTC websites, Bitcoin are also getting more popular.P.S. Someone mentioned possible connections between Payza and Egopay scam. Well, I heard similar talks when Egopay was still alive.
From what I've heard and what I've read about the HYIP industry, since Payza is indeed somewhat reversible, the admins of HYIP sites will often continue to pay out for payza even after the money flow dries out(and when other payment processor deposits aren't getting paid out anymore) due to the fear of charge backs.
Anyways, regardless of whether it's a favorite of the HYIP industry or not, there is no denying that it is definitely involved in these illegal ponzi investment schemes.
I don't think that the Egopay scam connection is yet confirmed, but it is probably highly likely. BTW have US users gotten a way to get their money back yet?
Liberty reserve, Liberty dollar, btce, many Swiss banks, an endless list of honest businesses that were railroaded by US government
Let's see how this one works out but in the case of LR or BTCE it was the USG intervention that caused losses to customers, so who's the bad guys?
Looks like these days Uncle Sam's favorite weaponry is charges of copyright violations, money laundering, child porn, and if that does not help, blame Putin.
Until we learn more this should be considered economic warfare against a company that has facilitated money movements outside USG controlled channels, nothing more
I don't know Payza, maybe they ARE bad guys, but what I want to say is: these are allegations from US justice system, and they have a terrible record....
Let's see how this one works out but in the case of LR or BTCE it was the USG intervention that caused losses to customers, so who's the bad guys?
Looks like these days Uncle Sam's favorite weaponry is charges of copyright violations, money laundering, child porn, and if that does not help, blame Putin.
Until we learn more this should be considered economic warfare against a company that has facilitated money movements outside USG controlled channels, nothing more
I don't know Payza, maybe they ARE bad guys, but what I want to say is: these are allegations from US justice system, and they have a terrible record....
Yeah. You missed out on e-gold as well.
Then why dont you stop promoting a service that assists child pornographers?
You can not accuse them without evidence and as I said and I will repeat it again: they are not guilty if someone uses their services to commit some crime.
But the owners of the payza have a bleak past and they are scammers:
Payza terminate US payment processing, status of client funds unknown
Its not Payza who's exploiting those children either. The service is merely laundering money
They are shady and they may be involved in this.
How are Payza continuing to provide payment processor services?
you do not have proof, you're just making a assumptions.
Proof? I am not saying they are, but wheres your proof that the owners of Chipmixer DO NOT know that their service is being used by child pornographers? Thats because its easy to assume that they do, because THEY ARE. You cannot assume that every Chipmixer tumble is illegal, but you cannot assume that they also are all legal.
Heres a thought experiment. Should Satoshi go to prison if he knew by creating BTC, he would be partly responsible for transactions for buying and selling of child pornography?
Liberty reserve, Liberty dollar, btce, many Swiss banks, an endless list of honest businesses that were railroaded by US government
Let's see how this one works out but in the case of LR or BTCE it was the USG intervention that caused losses to customers, so who's the bad guys?
Looks like these days Uncle Sam's favorite weaponry is charges of copyright violations, money laundering, child porn, and if that does not help, blame Putin.
Until we learn more this should be considered economic warfare against a company that has facilitated money movements outside USG controlled channels, nothing more
I don't know Payza, maybe they ARE bad guys, but what I want to say is: these are allegations from US justice system, and they have a terrible record....
Let's see how this one works out but in the case of LR or BTCE it was the USG intervention that caused losses to customers, so who's the bad guys?
Looks like these days Uncle Sam's favorite weaponry is charges of copyright violations, money laundering, child porn, and if that does not help, blame Putin.
Until we learn more this should be considered economic warfare against a company that has facilitated money movements outside USG controlled channels, nothing more
I don't know Payza, maybe they ARE bad guys, but what I want to say is: these are allegations from US justice system, and they have a terrible record....
Why do they want to run away with other people's money? Why does not he prove he's innocent?
you are twisting everything out of context. it is the US government that ran off with payza customers' money:
Quote
The “payza.eu” domain was registered back in 2012. Payza only activated in response to the domain seizure however on March 21st.
Payza’s parent shell company PH Millars is listed as the owner of the domain.
Payza’s parent shell company PH Millars is listed as the owner of the domain.
Big scammers always have a plan B
how does that make them scammers? it just means they knew they were in regulatory crosshairs and were at risk of frozen funds or domain.
i think he's just making a point. because you're the one making assumptions about payza...
Okay. Then would you agree that mixing services are also bad because they assist those same bad and disgusting people in hiding their transactions?
it's not the fault of the mixing service, it's the fault of the person who uses the mixing service to do bad things.
Are you willing to give up your signature campaign if a child pornography ring was using Chipmixer?
you should realize that having a mix service does not mean that you are promoting crime, people who use the mix service for malefic purposes is who are guilty.
In the case of payza, it is the owners who are dishonest
Its not Payza who's exploiting those children either. The service is merely laundering money, the same way Chipmixer knows and is also mixing the child pornographer's BTC transactions. I have nothing against those services, but you do.
Then why dont you stop promoting a service that assists child pornographers?
There's a difference in a service actively facilitating, aiding and abetting. I wouldn't abandon this forum, even if it arguably helps scammers get word out on their scams by being allowed to post in the Gambling>investor based games. I wouldn't abandon Bitcoin even if it used to be the currency of choice by dark markets. Or Monero, for that matter.
There is a difference. And contrary to what you might think, the ideology behind privacy isn't criminal.
Then why dont you stop promoting a service that assists child pornographers?
You can not accuse them without evidence and as I said and I will repeat it again: they are not guilty if someone uses their services to commit some crime.
But the owners of the payza have a bleak past and they are scammers:
Payza terminate US payment processing, status of client funds unknown
Its not Payza who's exploiting those children either. The service is merely laundering money
They are shady and they may be involved in this.
How are Payza continuing to provide payment processor services?
you do not have proof, you're just making a assumptions.
Okay. Then would you agree that mixing services are also bad because they assist those same bad and disgusting people in hiding their transactions?
it's not the fault of the mixing service, it's the fault of the person who uses the mixing service to do bad things.
Are you willing to give up your signature campaign if a child pornography ring was using Chipmixer?
you should realize that having a mix service does not mean that you are promoting crime, people who use the mix service for malefic purposes is who are guilty.
In the case of payza, it is the owners who are dishonest
Its not Payza who's exploiting those children either. The service is merely laundering money, the same way Chipmixer knows and is also mixing the child pornographer's BTC transactions. I have nothing against those services, but you do.
Then why dont you stop promoting a service that assists child pornographers?
I'm really shocked to see news that Payza involved in money laundering. I always thought they are serious and trusted company, something like a good alternative to PayPal.
Now I see that they started to use new domain Payza.eu and we can access our accounts. I have only few bucks there, I'm not sure is it worth to withdraw it now.
P.S. Someone mentioned possible connections between Payza and Egopay scam. Well, I heard similar talks when Egopay was still alive.
Now I see that they started to use new domain Payza.eu and we can access our accounts. I have only few bucks there, I'm not sure is it worth to withdraw it now.
They were trusted because a lot of PTC sites used them as well as HYIP sites, both industries are extremely shady. But if they were operating in the US without a license then they were just calling for this to happen honestly, especially with their association with PTC and HYIP sites which Paypal refuse to work with.
You're right about PTC websites, many of them used Payza. But I haven't saw many HYIP's which was using Payza. If I remember correctly, Payza allows chargebacks, so it's not good option for HYIP owners. Perfectmoney is prefered payment proccessor among HYIP and PTC websites, Bitcoin are also getting more popular.P.S. Someone mentioned possible connections between Payza and Egopay scam. Well, I heard similar talks when Egopay was still alive.
Wow! I had money at my Payza account. A few months ago, I've emptied my account, just like my Skrill account, and I see now that I've been very
lucky. This just shows we need BTC more than ever. The f*cking feds can close a payment processor, but they can't close BTC. It is the future!
lucky. This just shows we need BTC more than ever. The f*cking feds can close a payment processor, but they can't close BTC. It is the future!
Precisely. This is an example of why bitcoin is important. Any government can seize operation of a bank, an online payment processor, or any centralized exchanges or wallets. However, they will never be able to close down bitcoin.
You were lucky there. Reading from their recent announcements I don't think that US based customers can even move their funds anywhere:
A few years ago I was using Payza for some of my services but because of their high fees and because of their delay in some withdrawals I was tired with them. It was really a trusted company but they workers were working slow so because of that I went to Okpay and after that I came to bitcoin community and after that time I heard this news of them here and trying to visit the site but it looks like the site is now closed. Every business need to obey the rules strictly so that they can go for longer time.
They were trusted because a lot of PTC sites used them as well as HYIP sites, both industries are extremely shady. But if they were operating in the US without a license then they were just calling for this to happen honestly, especially with their association with PTC and HYIP sites which Paypal refuse to work with.
Wow! I had money at my Payza account. A few months ago, I've emptied my account, just like my Skrill account, and I see now that I've been very
lucky. This just shows we need BTC more than ever. The f*cking feds can close a payment processor, but they can't close BTC. It is the future!
lucky. This just shows we need BTC more than ever. The f*cking feds can close a payment processor, but they can't close BTC. It is the future!
A few years ago I was using Payza for some of my services but because of their high fees and because of their delay in some withdrawals I was tired with them. It was really a trusted company but they workers were working slow so because of that I went to Okpay and after that I came to bitcoin community and after that time I heard this news of them here and trying to visit the site but it looks like the site is now closed. Every business need to obey the rules strictly so that they can go for longer time.
This is a very shocking news, I used payza for many years and I always thought they were trustworthy and honest, I can not believe they did these things that are being accused, I hate people that hurt children and know that payza is involved with child pornography? they are disgusting!
Are you stupid? Just because the site was used for money laundering does not mean that the founders were directly involved. All they do is run the site that accepts cryptocurrencies. That is an easy target for money launderers, the same way Localbitcoins or another exchange is.
Cant you also see what the government and the media is trying to do? They are causing FUD to make us support their campaign against cryptocurrency use.
I may not support child pornography and ponzi schemes, but I support the freedom to move our money anywhere and anytime we want, with no government interference.
@figmentofmyass
if you think payza and btc-e are innocent, then tell the government of the usa. I do not put my hand on fire for them and I will not use their services.
if you think payza and btc-e are innocent, then tell the government of the usa. I do not put my hand on fire for them and I will not use their services.
nobody's telling you to use payza or btc-e. i bring up btc-e because they were a trustworthy, reliable service for many years. they had many legitimate traders, including myself. just because the US government does something doesn't make the law moral or precise. and the US government also engages in a lot of morally heinous shit.
i say let them show their case in court before passing these judgments. not that it matters morally. unlicensed MSB and money laundering charges are standard in the financial and crypto worlds. you have any idea how many crypto exchanges are unlicensed MSBs? i just don't understand the surprise or moral disgust here.
Okay. Then would you agree that mixing services are also bad because they assist those same bad and disgusting people in hiding their transactions?
it's not the fault of the mixing service, it's the fault of the person who uses the mixing service to do bad things.
isn't that contradicting what you said above? where is the evidence that payza engaged in anything but money transmission, or knew that funds were tied to child pornography?
In the case of payza, it is the owners who are dishonest
how so?
anyway, much of the global financial system involves endless layers of money laundering. the US picks and chooses who it comes after.
@figmentofmyass
if you think payza and btc-e are innocent, then tell the government of the usa. I do not put my hand on fire for them and I will not use their services.
it's not the fault of the mixing service, it's the fault of the person who uses the mixing service to do bad things.
you should realize that having a mix service does not mean that you are promoting crime, people who use the mix service for malefic purposes is who are guilty.
In the case of payza, it is the owners who are dishonest
I will also stay away from them, I regret not having done research before using the site
if you think payza and btc-e are innocent, then tell the government of the usa. I do not put my hand on fire for them and I will not use their services.
Okay. Then would you agree that mixing services are also bad because they assist those same bad and disgusting people in hiding their transactions?
it's not the fault of the mixing service, it's the fault of the person who uses the mixing service to do bad things.
Are you willing to give up your signature campaign if a child pornography ring was using Chipmixer?
you should realize that having a mix service does not mean that you are promoting crime, people who use the mix service for malefic purposes is who are guilty.
In the case of payza, it is the owners who are dishonest
But now this article has opened my eyes and im gonna stay away from this exchanger.
I will also stay away from them, I regret not having done research before using the site
Thanks a ton for publishing this article. I have been using this service since long time and I am pretty sure my first step after this would be studying the matter in deep. I will surely transfer all my funds from the payza because it could destroy the future of payza at all cost. They also implemented the crypto currency exchanger recently.
One true incident that happen with me was, when I bought 2K USD worth bitcoin from this exchanger then my bank literally called me for verifying this transaction. When I confirmed it and I asked them then they said that we thought your card is being used at terminal which resides in the China. This clearly state that Payza usage some shit processor algorithm that cant even differentiate the location.
But I still continued to use it for its few features that are not available in my country. But now this article has opened my eyes and im gonna stay away from this exchanger.
One true incident that happen with me was, when I bought 2K USD worth bitcoin from this exchanger then my bank literally called me for verifying this transaction. When I confirmed it and I asked them then they said that we thought your card is being used at terminal which resides in the China. This clearly state that Payza usage some shit processor algorithm that cant even differentiate the location.
But I still continued to use it for its few features that are not available in my country. But now this article has opened my eyes and im gonna stay away from this exchanger.
Are you stupid?
Did you read every article and the links?
Just because the site was used for money laundering does not mean that the founders were directly involved.
Really?
" MH Pillars, the latest incarnation of the Patel brothers criminal enterprise, began in 2012.
The indictment however goes back further than that, beginning with the incorporation of AlertPay in 2005.
Between 2005 and 2011 "
source: http://behindmlm.com/payment-processors/inside-payza-the-patel-brothers-multi-million-dollar-criminal-enterprise/
All they do is run the site that accepts cryptocurrencies.
Nope, how many sites accept cryptocurrencies that are being closed? show us!
If the authorities did not want cryptocurrencies they would have banned it for a long time ago.
That is an easy target for money launderers, the same way Localbitcoins or another exchange is.
are potential money laundering sites, so they should be inspected periodically and should be properly regulated
Cant you also see what the government and the media is trying to do? They are causing FUD to make us support their campaign against cryptocurrency use.
Dude, this has nothing to do with cryptocurrency.
but I support the freedom to move our money anywhere and anytime we want, with no government interference.
have freedom is very good, but our society has rules and laws that we must respect. you must pay taxes and indicate the source of your money. So there's no way you can do something without the government not knowing
Yes and you will have your documents rejected multiple times you see.
3 years to be precise
Okay. Then would you agree that mixing services are also bad because they assist those same bad and disgusting people in hiding their transactions?
Are you willing to give up your signature campaign if a child pornography ring was using Chipmixer?
Just because the site was used for money laundering does not mean that the founders were directly involved.
Really?
" MH Pillars, the latest incarnation of the Patel brothers criminal enterprise, began in 2012.
The indictment however goes back further than that, beginning with the incorporation of AlertPay in 2005.
Between 2005 and 2011 "
source: http://behindmlm.com/payment-processors/inside-payza-the-patel-brothers-multi-million-dollar-criminal-enterprise/
if we're being fair, "taking on [money transmission] customers trafficking in child pornography" is not the same is engaging in violence against children. or knowingly processing the illicit proceeds.
where is that sourced from? how do we know that they knowingly entered into partnerships with child pornography rings or knowingly transmitted the proceeds of such?
how do we know---as i assume the case was with BTC-E---that this was not a case of inadequate diligence, or lack of care? running the business with a blind eye to any underlying activities, because it was profitable? that may not be honorable to everyone, but it's not what you're suggesting.
All they do is run the site that accepts cryptocurrencies.
Nope, how many sites accept cryptocurrencies that are being closed? show us!
give it time. look at BTC-E.
If the authorities did not want cryptocurrencies they would have banned it for a long time ago.
honestly, i think it's a lot more complicated due to geopolitics. if all governments would simply agree to ban cryptocurrencies, i believe they surely would. but unanimous agreement among geopolitical powers is a very rare thing. if one power bans it while another accumulates reserves, that can put the former at great disadvantage. major governments know this.
I thought that I’m wrongly reading it, a company with a reputable and well known as a payment site own is operating without a license. That’s a shame. If they proven to be doing such criminally associated activities then they surely deserve any punishment that the government imposed. This is not a good news, but it is also a reminder that we can’t hide our secrets forever.
If authorities dig deeper to find unlicensed organizations then the number will not be less whether it is in fiat world or crypto world.I do agree with that. The problem with unlicensed company, this can be a fiat or crypto related. No exceptions. Both have history and tendency to by pass the law for they know if they come out in the open with licences they are audited mandatorily for taxation. This is also a manifestation that in crypto world, money laundering will leave a trace. So we can conclude that, to launder money in blockchain is a no bueno.
Yet another incident which will taint the image of cryptocurrency and will make people think that bitcoin or crypto is used for illegal means or criminal activity. People who don’t know crypto will get the wrong idea, and this news will make it look like crypto is used for money laundering or crimes such as child pornography. It’s sad how a service provider such as this have a dirty business hidden underneath. Usually, this kind of business is just used as a front so that they may get away with the illegal activity.
Payza is not a cryptocurrency institution, it's a fiat currency payment processor. Though they have offered bitcoin withdrawal service, I don't remember about the deposit option because I used them a long time ago.
I thought that I’m wrongly reading it, a company with a reputable and well known as a payment site own is operating without a license. That’s a shame. If they proven to be doing such criminally associated activities then they surely deserve any punishment that the government imposed. This is not a good news, but it is also a reminder that we can’t hide our secrets forever.
If authorities dig deeper to find unlicensed organizations then the number will not be less whether it is in fiat world or crypto world.Jump to: