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FX United Re-explained: How to wash your own funds through Czech Republic

I’ve previously written about www.FXunitedexplained.com, a website put together by a Sydney based lawyer, which has been quite insightful and I must thank him for putting up some very useful information particularly how he funded his investment.


The blogger does note his concern and perceived risk regarding sending funds to the Czech Republic, concerns that appears to be quickly mitigated by his new friends and counsel. This is an important tipping point. Because what should be a series of almost insurmountable red flags are quickly swept away. Here are some of the key flags;

  1. Your introducers are from Malaysia.
  2. They want you to use a HK Money Services Supplier.
  3. Your money is in Aussie Dollars.
  4. The investment is US$
  5. The HK group’s bank account is in the Czech Republic.
  6. You are asked to send your money in Euros.
  7. The Czech Republic currency is NOT Euros

But the comfort of others got him over the line and focused back on the path to financial freedom.
This in fact is an important tipping point. Its likely that most of those that were making the investment for the first time would experience a similar concern, which would be dealt with in the same way. You raise your concern with the person/people you have access to. Its not just because they state it worked for them, its far more than that, they get validation by you joining the growing crowd, they have a vested interest in maximising your confidence to continue to take larger positions not only from the residual income but also to protect their existing investments.

Once an investor passes this point then you then become one of them, and the next person that comes along that has the same issues will be given the same support, comfort and encouragement….and the crowd becomes larger it becomes more compelling

The Invoice
Lets have a closer look at the ridiculously poor quality invoice provided.



Part 1:
Lets look the following items;

Purpose
The purpose of the funds are "Payment of Invoice"
So from the banks perspective, the depositor is paying money that is owed to another party.
Beneficiary
Global Transaction Services (HK) Limited
The beneficiary is clearly stated, so the bank is satisfied that the money is making payment to GTS(HK) in satisfaction of the obligation that has been invoiced.
Reference
Reference number "9120284456"
This reference number - is not related to the depositor there is no link to the invoice or the investor.
BUT it would be related to the FXU party facilitating the fraud.

The investor/depositor has completely disconnected himself from his money. As far as the bank is concerned he has just settled an obligation to GTS (HK) an entity that he has no contractual relationship with.

He just washed his own cash for a party who he has no idea who they are.


Aussie dollars, Euro’s, Korana’s & any currency BUT USD

Its worthwhile noting that one of the money service providers is Perfect Money, also interesting is a reference in the blog to the reason that the investor while in Australia where we have AUD, he is making an investment in USD, but the transfer is being done in Euro’s because the bank is in Europe.

Well that perhaps would make sense if banks only accepted the function currency of the jurisdiction in which the branch is located. But doesn’t help the rationale in any event as the Koruna is the local currency not the Euro. Perhaps the following article sheds some light on the actual reason (Liberty Reserves falls, Perfect money rises);



Part 2 ….stay tuned

Global Transaction Services…..the story gets interesting….



#FXUnited Re-explained: How to wash your own funds through Czech Republic copy


I’ve previously written about www.FXunitedexplained.com, a website put together by a Sydney based lawyer, which has been quite insightful and I must thank him for putting up some very useful information particularly how he funded his investment.


The blogger does note his concern and perceived risk regarding sending funds to the Czech Republic, concerns that appears to be quickly mitigated by his new friends and counsel. This is an important tipping point. Because what should be a series of almost insurmountable red flags are quickly swept away. Here are some of the key flags;

  1. Your introducers are from Malaysia.
  2. They want you to use a HK Money Services Supplier.
  3. Your money is in Aussie Dollars.
  4. The investment is US$
  5. The HK group’s bank account is in the Czech Republic.
  6. You are asked to send your money in Euros.
  7. The Czech Republic currency is NOT Euros

But the comfort of others got him over the line and focused back on the path to financial freedom.
This in fact is an important tipping point. Its likely that most of those that were making the investment for the first time would experience a similar concern, which would be dealt with in the same way. You raise your concern with the person/people you have access to. Its not just because they state it worked for them, its far more than that, they get validation by you joining the growing crowd, they have a vested interest in maximising your confidence to continue to take larger positions not only from the residual income but also to protect their existing investments.

Once an investor passes this point then you then become one of them, and the next person that comes along that has the same issues will be given the same support, comfort and encouragement….and the crowd becomes larger it becomes more compelling

The Invoice
Lets have a closer look at the ridiculously poor quality invoice provided.



Part 1:
Lets look the following items;

Purpose
The purpose of the funds are "Payment of Invoice"
So from the banks perspective, the depositor is paying money that is owed to another party.
Beneficiary
Global Transaction Services (HK) Limited
The beneficiary is clearly stated, so the bank is satisfied that the money is making payment to GTS(HK) in satisfaction of the obligation that has been invoiced.
Reference
Reference number "9120284456"
This reference number - is not related to the depositor there is no link to the invoice or the investor.
BUT it would be related to the FXU party facilitating the fraud.

The investor/depositor has completely disconnected himself from his money. As far as the bank is concerned he has just settled an obligation to GTS (HK) an entity that he has no contractual relationship with.




He just washed his own cash for a party who he has no idea who they are.


Aussie dollars, Euro’s, Korana’s & any currency BUT USD

Its worthwhile noting that one of the money service providers is Perfect Money, also interesting is a reference in the blog to the reason that the investor while in Australia where we have AUD, he is making an investment in USD, but the transfer is being done in Euro’s because the bank is in Europe.

Well that perhaps would make sense if banks only accepted the function currency of the jurisdiction in which the branch is located. But doesn’t help the rationale in any event as the Koruna is the local currency not the Euro. Perhaps the following article sheds some light on the actual reason (Liberty Reserves falls, Perfect money rises);



Part 2 ….stay tuned

Global Transaction Services…..the story gets interesting….



A professionals accidental journey from cynic to champion





and incredibly dangerous crowd driven wealth destroying

which by virtue of their chosen professional as lawyer a natural propensity towards

insight to the journey from


journey of a professional

The persona I immediately disliked as I assumed it was a poorly veiled pump-up. As I read through

Having spent 9-12 months deep diving in the cess pool of retail forex, and more specifically those that use re-skinned off the shelf platforms as a front to promote stinky fixed return no risk, 100% guaranteed, most trustworthy, proprietary secret squirrel IP, market moving , most gifted AI bot, self percolating fund management investment (aka a dodgy HYIP Ponzi) I’ve perhaps become ultra cynical and somewhat sensitive to these schemes, those that promote them and the n

was providing an account of had made the cautious decision to invest with FX United


  1. I speculate that if UGHL has provided any accounts they would have filed them as ‘dormant accounts’, because of course they are not actually doing business through this entity. There is a UGHL Bahamas, which like other similar jurisdictions doesn’t require you to file accounts in any event.

www.fxunitedexplained.com



FX United Explained
archived 15 Jul 2016 00:50:51 UTC


What started out to be a comment to one of Richard’s articles that mentions the soon to be homeless United Global Holdings, has blown out a little and has morphed into an article / blog of sorts.

FX United Explained
During the week I stumbled across web-blog www.fxunitedexplained.com. To be honest, I am still a little confused and have mixed feelings about the site. My first reaction was that it was a marketing ploy by FX United taking on the persona of a Sydney lawyer.

If it is in fact an honest account (which I think it may be), it provides an unfettered insight of ones journey a qualified professional journey from cynic to champion, and highlights the powerful influence of human behaviour and the crowd.

Its important to note, that the author of the blog started as a cynic, and did undertake a level of due diligence, as part of this process was looking for signs that this was a scam.
Its easy to look from the outside in and pick holes in someone’s process and decision making.

The first most obvious question from an outsider, thats had no involvement in something similar, is that how does a professional, especially one in the legal professional that has natural propensity towards being a cynic and a risk mitigator quickly move so quickly from cynic to champion.

Having thought about it, there are some reasonably obvious reasons.
We all are a product of our environment, and generally move through life within the constraints of our chosen career. Lawyers are highly skilled, by virtue of their profession tend to be cynical, generally cautious, and risk adverse. Each of these traits can be seen within the blog.
Advantageously, there the ability to transfer and utilise these skills in other environments and sectors. But they can also be very ineffective without availability
Being a lawyer in no way equates to having an effective understanding of financial markets, or the regulations that those markets are bound by.

A combination of the lack of identifiable and easily accessible resources that he could use and process that would provide definitively provide the clarity he was seeking as to whether this was a scam or not. One of the things I found most concerning was the lack of understanding of the legal and regulatory considerations; "is it a scam and does it really matter". Yes and yes. Actually its a train wreck of breaches

The retail forex space is a cesspit filled with dodgy providers. So much so ASIC has recently lifted the skirt on 55 providers, handing out 150 regulatory actions, and this is just to the licensed providers, their corporate representatives, and not those that are unlicensed or peddling the HYIP Ponzi death traps.

I doubt that the blog would ever have been started if he was digested and understand the legal and regulatory considerations and potential consequences resulting from promoting, taking a clip from those that sign up to an unregulated fx provider peddling an illegal product.

Secondly, and quite importantly there is no easily available analytical model that provides clarity to just how impossible it is for the products

These resources if were within his reach you would expect the outcome to be

One trait that wasn’t lost throughout was the importance of risk mitigation.

Unfortunately, the merchants of scam know is the key to maximising their scam.
It is delivered with devastating effect;
the outrageously high yield, the false sense of confidence gained from the month to month payments, the reinforcements, and the stimulus of confidence meshed with the eniviatble desires of greed. Result in the ultimate sin being committed. Borrowing to invest in something that is not real.




definitive answer

tools at his disposal, looking for facts that he considered important in determining if this was a scam or not, a strong desire to move his life forward,
somewhat unaware of the influence of a small but motivated and conflicted crowd





skills and expertise developed can b

while transferable and useful outside their core area of expertise, are not

Our knowledge, skills and


professional in one field develops knowledge and skills



FX United ‘Funding your account'


FX United Re-explained: How to wash your own funds through Czech Republic

I’ve previously written about www.FXunitedexplained.com, a website put together by a Sydney based lawyer, which has been quite insightful and I must thank him for putting up some very useful information particularly how he funded his investment.


The blogger does note his concern and perceived risk regarding sending funds to the Czech Republic, concerns that appears to be quickly mitigated by his new friends and counsel. This is an important tipping point. Because what should be a series of almost insurmountable red flags are quickly swept away. Here are some of the key flags;

  1. Your introducers are from Malaysia.
  2. They want you to use a HK Money Services Supplier.
  3. Your money is in Aussie Dollars.
  4. The investment is US$
  5. The HK group’s bank account is in the Czech Republic.
  6. You are asked to send your money in Euros.
  7. The Czech Republic currency is NOT Euros

But the comfort of others got him over the line and focused back on the path to financial freedom.
This in fact is an important tipping point. Its likely that most of those that were making the investment for the first time would experience a similar concern, which would be dealt with in the same way. You raise your concern with the person/people you have access to. Its not just because they state it worked for them, its far more than that, they get validation by you joining the growing crowd, they have a vested interest in maximising your confidence to continue to take larger positions not only from the residual income but also to protect their existing investments.

Once an investor passes this point then you then become one of them, and the next person that comes along that has the same issues will be given the same support, comfort and encouragement….and the crowd becomes larger it becomes more compelling

The Invoice
Lets have a closer look at the ridiculously poor quality invoice provided.



Part 1:
Lets look the following items;

Purpose
The purpose of the funds are "Payment of Invoice"
So from the banks perspective, the depositor is paying money that is owed to another party.
Beneficiary
Global Transaction Services (HK) Limited
The beneficiary is clearly stated, so the bank is satisfied that the money is making payment to GTS(HK) in satisfaction of the obligation that has been invoiced.
Reference
Reference number "9120284456"
This reference number - is not related to the depositor there is no link to the invoice or the investor.
BUT it would be related to the FXU party facilitating the fraud.

The investor/depositor has completely disconnected himself from his money. As far as the bank is concerned he has just settled an obligation to GTS (HK) an entity that he has no contractual relationship with.

He just washed his own cash for a party who he has no idea who they are.


Aussie dollars, Euro’s, Korana’s & any currency BUT USD

Its worthwhile noting that one of the money service providers is Perfect Money, also interesting is a reference in the blog to the reason that the investor while in Australia where we have AUD, he is making an investment in USD, but the transfer is being done in Euro’s because the bank is in Europe.

Well that perhaps would make sense if banks only accepted the function currency of the jurisdiction in which the branch is located. But doesn’t help the rationale in any event as the Koruna is the local currency not the Euro. Perhaps the following article sheds some light on the actual reason (Liberty Reserves falls, Perfect money rises);



Part 2 ….stay tuned

Global Transaction Services…..the story gets interesting….