The BridgerPay Attack On CyberFinance Rating Agency PayRate42!

Ben
Wed, 28 Sep 2022 09:31:47 +0000
PayTechs, BridgerPay, PayRate42, Ran Cohen

FinTelegram has been active as a financial intelligence platform for about four years, specializing primarily in investor protection and financial cybercrime. Since FinTelegram’s inception, Ran Cohen‘s Israeli-Cypriot payment platform provider BridgerPay has come to light as a facilitator in dozens of scams. The CyberFinance rating agency PayRate42 also placed BridgerPay on its Red Compliance list. And was berated and defamed by Cohen in a Facebook post for doing so.

We think Ran Cohen‘s bashing of the Red Compliance rating is completely unwarranted. The fact is that FinTelegram has published nearly 50 reports showing BridgerPay‘s participation as a payment processor in trading scams. BridgerPay not only acts as a payment gateway but also as a Merchant Servicer registered with VISA. In addition, BridgerPay brokers payment processors to its merchants via its Bridger Connect service.

Go to the BridgerPay profile on PayRate42

A supposedly AI-powered smart payment gateway that does not recognize bad merchants, payment processors, or transactions or is unable to map adequate automated KYC procedures can be described as rather modest.

We asked PayRate42 if BridgerPay had complained or contacted them prior to this bashing. No, it did not, was the PayRate42 guys said. Thereby it is quite easy (and free of charge) to get in contact according to PayRate42 and to start discussions about the rating or to claim the profile in a trial offer (for free), they explain. But Cohen did not do that.