In early December 2021, we issued a warning against StandPoint Finance (www.standpointfinance.com) broker scam facilitated by VISA partner BridgerPay in its capacity as a payment processor. The Spanish regulator CNMV also issued a warning against this scam. You would think that these warnings would be enough for BridgerPay to terminate the relationship with its scam merchant. Wrong thought. As of Dec 21, 2021, the scam is still online and BridgerPay is still active as a payment processor.
Key data
| Brand | StandPoint Finance |
| Domain | www.standpointfinance.com |
| Legal entity | Standpoint Financial Limited |
| Jurisdiction | St. Vincent & The Grenadines |
| Payment processor | BridgerPay |
| Warnings | CNMV, AMF Quebec |
Scam narrativ
StandPoint Finance has presented itself as a crypto broker via various press releases and wants to profit from the still ongoing (despite recent price drops) crypto hype. Most recently, StandPoint Finance announced its intention to open a Bitcoin mining farm in a press release on November 15, 2021.
The scam is active in several languages, attacking consumers in English, Spanish, Italian, German, and Russian. The offshore entity Standpoint Finance Limited, registered in St. Vincent & The Grenadines, is listed as the operator.
Warnings
Today, Spanish regulator CNMV issued a warning against StandPoint Finance (see our report here). Previously, the Canadian regulator AMF had already placed the scam on its warning list. As recently as October 2021, StandPoint Finance said via a press release that it would “work the Spanish-speaking market.” A dangerous threat.
The payment processor
Of course, we don’t know precisely why the high-risk payment processor BridgerPay is so intensively involved in the illegal scene and supports it. But you don’t need to be a rocket scientist to suspect that it’s about growth and profits. The dark site merchants pay a lot more. Ran Cohen and Nati Harpaz run Cyprus-based BridgerPay AI Limited d/b/a BridgerPay (www.bridgerpay.com).
