Tag: Safened-Fourthline

On the 28th of October 2021, ING announced that its subsidiary Payvision would be terminated. The Amsterdam-based FinTech, founded by Rudolf Booker, had just been acquired by ING in 2018 for €360 million. However, it turns out that Payvision facilitated cybercrime and porn business with its payment services. Booker was forced to leave in April 2020. Evidently, he wants to build on his cybercrime expertise and develop the compliance venture Fourthline. Investor protection advocate Elfriede Sixt calls this a joke!

Safened is the trading name of Safened-Fourthline Limited, a company licensed by the FCA as an Authorised Payment Institution since May 2018. Safenet-Fourthline Opco Holding B.V. in Amsterdam controls the company, says UK Companies House. A director of Safened-Forthline is Payvision founder Rudolf Booker. SafeNed Deposits B.V. in Amsterdam is also connected to Safened. All companies are registered at Tesselschadestraat 12 in 1054 Amsterdam. The Payvision spin-off Cetler B.V. is also located there.

The largest Dutch financial newspaper Het Financieele Dagblad has continued the story with Payvision and ING with an impressive piece of investigative work. In addition to the data he received from FinTelegram and EFRI, Betlem did extensive research of his own and concludes in his two reports that Payvision was and is a horror project for ING. The founder team with Rudolf Willem Booker, Gijs op de Weegh, and Cheng Liem Li had to leave the company in April 2020.