We asked ChatGPT what he knows about the high-risk payment processor Advcash. This is also in connection with the crypto payment processor Mercuryo, presumably controlled by Russian nationals. Here is the AI bot’s answer.
Advcash is a payment platform that allows users to send and receive payments in multiple currencies, including cryptocurrency. The platform offers various services, including digital wallets, prepaid cards, and virtual cards. Advcash was founded in 2014 and is headquartered in Belize, with offices in the United Kingdom and Russia. Advcash has been associated with scams and fraud, so users should exercise caution and do their due diligence before using the platform.
Please also read the Advcash comment to our article on Mercuryo
The ownership structure of Advcash is not publicly disclosed, and the company has not provided any information on its owners. The platform is registered in Belize and operates under the legal name “Advanced Cash Limited.” However, some sources suggest that Advcash may have ties to Russian individuals or entities, although this has not been confirmed. It’s important to note that the lack of transparency around the ownership of Advcash has raised concerns among some users and regulators, particularly in relation to the platform’s compliance with anti-money laundering (AML) and know-your-customer (KYC) regulations.