Today, in the course of our daily reviews of active scam campaigns, we found that the 1k Daily Profit campaign is promoting CySEC-regulated 1Market (www.1market.com) today. Exelcius Prime Ltd operates this broker with license 366/18. In our review, parallel to registering with the 1k Daily Profit scam campaign, we were also registered as a customer of 1Market and redirected directly to the broker’s payment page. There we were able to make large deposits without confirming our email, let alone proper onboarding.
Our review worked through a UK IP. Hence, the fraud campaign and 1Market identified us as a potential UK customer. As a result, we were informed via a pop-up that the UK FCA would regulate Exelcius Prime a/k/a 1Market. Customers referred via 1k Daily Profit apparently do not have to go through a proper KYC/AML process before making deposits.
The non-compliant payment process
In our simulated deposit, we were able to deposit GBP 35,000 via bank transfer without any problem. At this time, we had not even confirmed our email address. Nothing! Even though we could have sent our money to the 1Market bank account at IFX PAYMENTS (IBAN GB41IFXS23229048791864) via the payment processor Volt (www.volt.io) and its connectivity partner SafeConnect (see screenshot left). SafeConnect a/k/a yapily is an AISP and PISP regulated by the Bank of Lithuania and UK FCA. Currently, the domain www.gosafeconnect.com specified by the FCA is offline. Instead, the business is done via yapily (www.yapily.com).
IFX (UK) Ltd d/b/a IFX Payments is a UK FCA regulated e-Money Institution (Reference No 900517).
Systematic fraud
We are very well aware that CySEC regulated investment firms (CIF) like to work with fraud campaigns and integrate them deeply into their systems. In this regard, onboarding processes are changed, and just, for example, deposits are allowed without prior KYC/AML. Moreover, customers are solicited with false and fraudulent promises. Officially, the onboarding process is compliant for clients directly registering via the 1Market website. However, there is actually no onboarding process for clients solicited via fraud campaigns like 1k Daily Profit (see chart right).
Is CySEC aware of this, you ask? Sure it is!
