Ipay.eu / Bank and credit card fraud
An Eastern European Fraud apparently located either in Ukraine or in Bulgaria and using a website IPAY.EU has succeeded in snaring hundreds of victims with a fake website claiming to provide e-payment solutions similar to Google Wallet or Paypal, but for discounted rates.
In fact, the site is a scam, using the banking or credit card details of their victims to make fraudulent charges without the knowledge of their unsuspecting clients.
Shortly after opening an account with IPAY.EU, the victims are approached to order a debit Mastercard, which requires them to submit a copy of their passport, Identity card or Drivers License. This information is then used for identity theft and to make fraudulent debits on their bank or credit card accounts without their knowledge.
There are an increasingly large number of fraudulent websites established in Eastern European countries such as Bulgaria, Ukraine and other countries, where government oversight is lacks.
Consumers are warned never to submit financial or personal details on websites which do not belong to established financial institutions located in stable jurisdictions.