In our research on the Financial Resident broker scam (see report here), we noticed that iPayTotal was involved in the scam as one of the payment facilitators. However, when processing deposits via iPayTotal, visitors are redirected to Global Payments (www.globalpay.com), a payment processor licensed by the UK FCA. iPayTotal is one of the most notorious high-payment processors in the scammer scene. Many scammers complain that they were ripped off by iPayTotal and that funds were not transferred to them anymore. In this respect, the cooperation with a regulated FCA entity is somewhat surprising.
Global Payments is a trading name of GPUK LLP, a payment institution registered by the UK Financial Conduct Authority (FCA) with the reference number 504290. The company is entitled to provide payment services. GPUK LLP is a limited liability partnership registered in England number OC337146. The members are Global Payments U.K. Limited and Global Payments U.K. 2 Limited. Global Payments is also a trading name of Pay and Shop Limited, a limited company registered in Ireland.
We will follow up with a more detailed research of Global Payments soon.
