$Iban Wallet Mexico company Clearchoice Management has been fined for an amount of 2.6 million pesos (43 786 Euro)

"In the case of Clearchoice Management (Iban Wallet), the sanction imposed on this platform, for 2.6 million pesos, was for infringing the Credit Institutions Law by attracting resources from the public, without the corresponding authorization from the CNBV to perform this activity. According to the sanctions portal of the authority, these three fines are subject to challenge."

The company behind $Iban Wallet, New Generation Market SIA, has been liquidated in July.

Banco de Portugal has published a warning about $Iban Wallet:

Banco de Portugal warns that the entity “NEW GENERATION MARKET SIA", operating under the name "IBAN WALLET”, namely through the website www.ibanwallet.com/pt/, is not authorised to carry out in Portugal any financial activity subject to the supervision of Banco de Portugal, in particular the activities of accepting deposits or other repayable funds, providing payment services and issuing electronic money.

$Iban Wallet is rebranding, changing name to NEOFINDERS and NEOWINTECH

International fraud network dismantled in Lithuania. Could it be one of P2P platforms? Details mentioned:

* a deposit fraud network in several European countries
* during the operation, which took place in Lithuania, Sweden and the United Kingdom, 5 people were detained. They are all Lithuanian citizens
* damage caused is about 1.5 million EUR
* applied fraud scheme is a mutated form of investment fraud, i. y. deposit fraud, the main purpose of which is to put the vigilance of customers to sleep for a period of half a year to three years, during which the opportunity is taken to disappear
* German citizens and members of the academic community, were looking for a safe way to invest
* the chief suspect was born in 1951, the youngest in 1978, one of them has been convicted in Sweden for fraudulent bookkeeping, the other has been convicted in Lithuania, but it is a criminal offense to drive a vehicle while intoxicated


This video maybe is connected to this case as well: www.facebook.com/watch/live/?v=164402418833543&ref=watch_permalink

Sounds like something between IBAN Wallet (advertises safety and small returns, also freezes money for long periods) and FastInvest (Lithuanian citizens, also have a company in UK), but probably is not one of these. Any guesses?

$Iban Wallet has blocked all visitors from Estonia and Latvia to it's website.

Latvian company "New Generation Market SIA" is being liquidated since March 16, 2020, decision was made by owner on March 10, 2020: info.ur.gov.lv/#/legal-entity/40203215233

This process seems like a standard way for them to operate - doing IP limits, changing company names and owners, and later shutting down the companies.

One of P2P investors collected some info about their other legal entities and shareholders, see that in attachment.

Highlights from New Generation Market SIA financial report for 2020 (Latvian company that was supposed to be behind $Iban Wallet, previous company name: Iban Wallet Corporation SIA)

- Employees: 1
- Net sales: 168 366 EUR
- Gross profit: 168 366 EUR
- Cost of sales: 93 371 EUR
- Costs of administration: 72 786 EUR
- Profit or loss for the year: 2209 EUR

Report was published on Feb 2, 2021

The Financial and Capital Market Commission of Latvia (FCMC) warns about the services offered by New Generation Market SIA under the Iban Wallet brand on the website ibanwallet.com/ or in its Iban Wallet application. This service provider does not have the rights to engage in the provision of licensed financial services, including deposits, investment services, investment ancillary services and payment services.

The FCMC has not granted a license or permission to New Generation Market SIA to provide licensed financial services. The business of this company is not subject to FCMC supervision. The FCMC calls not to engage in transactions with New Generation Market SIA.

The FCMC also invites anyone who has suffered damages or has suspicions of fraud to contact the State Police.

$Iban Wallet have created a new company in Lithuania: "Iban Online, UAB" rekvizitai.vz.lt/en/company/iban_online/ Just like in Latvia, Estonia, Germany and possible elsewhere - it was set up by Marc-Anthony Hurr, but very likely company owner will later be changed to some afghan guy. Just like in Estonia and Germany, company is registered in a coworking space: wrkland.com/locations/private-offices-coworking-spaces-vilnius-didzioji/