BaFin issues cease and desist order against dissolved payment provider

BaFin issued a cease-and-desist order against a dissolved laundromat

Many German companies are acting as unauthorized payment processors for scammers. The law calls it money laundering. Lipans Smart Consult GmbH was one of those laundromats. BaFin issued a Cease-and-Desist Order but the company has already been dissolved months ago.