Payoneer Says It No Longer Serves ‘Shady’ Binary Options Firms

Payoneer confirmed that it does not serve disreputable companies involved in the binary options industry. According to the report posted online by the digital newspaper The Times of Israel, these Israel-based firms were allegedly behind defrauding customers out of millions, selling their victims sham investment wagers, per the FinCEN Files leak documents.

We want our readers to learn about this news regarding Payoneer. This financial services provider serves clients worldwide, and we think it is best if our readers learn more about it to keep them well-informed and financially protected.

A recent US Treasury Department documents leak revealed that Payoneer had offered financial services to firms involved in the shady binary options industry. The files also indicated that the company was involved in transactions with other questionable clients, including a forex company that French law enforcement investigated, murky offshore establishments allegedly involved in pornography, and scam dating websites.

According to a Suspicious Activity Report, Payoneer dispatched payment to Reliantco Investments in April 2014. The latter is a registered business entity based in Cyprus and is behind the portal, the sister website of, a binary options webpage.

A representative for Payoneer acknowledged that the financial services company had, indeed, processed payments for firms deemed questionable and probed by government authorities. Nonetheless, the spokesperson remarked emphatically that the company does not serve such kinds of businesses today.

The Payoneer representative confirmed that the financial services company had made a business decision to halt processing payments for high-risk enterprises starting in 2016. The company had also terminated serving these entities for years, per the spokesperson.

According to the representative, Payoneer complies with Anti-Money Laundering or AML obligations imposed by any regulator or authority anywhere worldwide, including the Financial Crimes Enforcement Network or FinCEN, the US Department of the Treasury bureau.

In 2005, Payoneer began its operations in Israel. Yaniv Chechik and Yuval Tal are its founders. Payoneer is among the largest digital money transfer platforms worldwide today.

It permits gig economy freelance workers and digital enterprises in various nations to transact with one another and their customers seamlessly. Among Payoneer’s partners are the world’s leading digital brands.

These companies consist of Fiverr, Amazon, Google, Airbnb, and Upwork. We believe in Payoneer, and we think it may have committed the error of serving unscrupulous companies in the past, such as those illegally engaged in binary options trading.

Nevertheless, we think that Payoneer deserves a second chance. We also believe that it is getting a second chance as we gathered that it is scheduled to go public on the Nasdaq Stock Market on this month’s culmination through a merger with a SPAC or a special purpose acquisition company at a valuation of US$3.3 billion.

Acknowledging Payoneer’s past mistakes is a favorable measure that the financial services company performed. Thus, we think that it deserves its global clients’ continued trust and patronage.

Binary Options Zone Copyright © 2019