AdvCash and Russian sactions?

[bastard]

How badly will AdvCash be hit by the Russian sactions? I didn't see any discussion about it as of yet.

They are located in Russia and for that reason they may not be able to conduct their business as usual or how are they dealing with it?

Maybe @ADV can help calrify?

 

[fredouille1973]

better to run away for course, they are already connected to the UK Laundromat.. I guess all funds will be ceased in Europe soon.

 

[bonox]

Their license is Belize not Russia I think.

 

[Martin Everson]

Run first and do not wait to find out. Like I said for years on here never use a Russian associated EMI. I said same with epayments even and that didnt go well for folk who used them.

 

[fredouille1973]

Run first and do not wait to find out. Like I said for years on here never use a Russian associated EMI. I said same with epayments even and that didnt go well for folk who used them.

in did the general approach is the safe one, they all wash money and will run 1 day with the funds as nobody will get them in their country

 

[JackAlabama]

How badly will AdvCash be hit by the Russian sactions? I didn't see any discussion about it as of yet.

They are located in Russia and for that reason they may not be able to conduct their business as usual or how are they dealing with it?

Maybe @ADV can help calrify?

They have Chinese powered cards. So outside EU no problem?

 

[JohnLocke]

They have Chinese powered cards. So outside EU no problem?

What card provider are they using now ?

 

[JackAlabama]

What card provider are they using now ?

Unionpay, I don't know if I should disclose that name here in public?

 

[cuno]

Unionpay, I don't know if I should disclose that name here in public?

why not, it can't be a secret!

 

[avalanche]

Run first and do not wait to find out. Like I said for years on here never use a Russian associated EMI. I said same with epayments even and that didnt go well for folk who used them.

Would you also say the same about Revolut?

 

[cuno]

I would never touch Revolut, from the very beginning it was a strange system with strange rules.

 

[fredouille1973]

I would never touch Revolut, from the very beginning it was a strange system with strange rules.

UK and LT regulated, with UBOs in europe / UK
Belize beautifull licence, UBOs in russia..

 

[bizman]

Belize beautifull licence, UBOs in russia..

you mean AdvCash with this right?

 

[avalanche]

UK and LT regulated, with UBOs in europe / UK
Belize beautifull licence, UBOs in russia..

I thought AdvCash management is in Miami?

 

[fredouille1973]

you mean AdvCash with this right?

yes

 

[bizman]

it will be exciting to see how the development goes with AdvCash, since they have Russian owners then they must be sanctioned sooner or later. Provided the war lasts a little longer.

 

[Martin Everson]

Would you also say the same about Revolut?

Yes

However Revolut has 14.5m customers so authorities may look at it differently as it has more customers than a lot of banks do. Revolut bank is in Lithuania and it potentially could get its licensed revoked as it has staff and operations in Russia. I am sure those talks are going on now.

But who knows as Russiaphobia has gone crazy .

 

[fredouille1973]

Yes

However Revolut has 14.5m customers so authorities may look at it differently as it has more customers than a lot of banks do. Revolut bank is in Lithuania and it potentially could get its licensed revoked as it has staff and operations in Russia. I am sure those talks are going on now.

But who knows as Russiaphobia has gone crazy .

revolut staff is in russia ? I doubt

 

[Simon4466]

I thought AdvCash management is in Miami?

Only their 'CEO' is. However, I believe that he is more of a 'puppet' (he opened a few very weirdly named companies last year, which does smell like laundering activities).

The UBOs are Russian (one can still be found from their previous UK Companies House registration).


However, a Belizian company with Russian UBOs operating in the fintech/payments industry which hands out Chinese payment cards, does not do any reporting, and is known to be used for HYIP schemes etc. How would you think leaving your money there could be a "smart" move?

 

[Martin Everson]

revolut staff is in russia ? I doubt

Yes and quite a few. I wrote the below here back in 2019:

Yes they are definitely looking for new ways of keeping the money flowing when crunch time comes with U.S .

However, why on earth would Revolut even think about opening a Moscow office...they deserve the Darwin Award. Is Russia that important to their business? . They are even applying for a banking license in Russia and looking for a head of banking .

"We are looking for a Head of Banking responsible for acquiring and maintaining a banking licence in Russia. This position requires an entrepreneurial operator looking to make an impact. The right candidate will serve as the local focal point in jurisdictions and interact with regulators to drive the application."

Revolut

They can kiss goodbye to being allowed to continue processing USD payments soon and in fact kiss goodbye to their UK business. Be very careful when dealing with Revolut as their business is on a suicide mission. Revolut is going to end up being a Russian laundromat.

Glassdoor also shows they have staff there...lol

https://www.glassdoor.com/Location/Revolut-Moscow-Location-EI_IE1176471.0,7_IL.8,14_IC3348306.htm

Seems the management have towed the western line to protect their interests. So maybe Revolut will be ok after all .

Farewell from AltFi

www.altfi.com