Force the regulated providers out, the shady ones will come

**Ian_go** · 6th February 2007, 07:01 PM

or so it would appear.....

YouTeller "false" claims
A new payments processor which says it will be open for business in March this year appears to be falsely claiming to be certified by the UK Financial Services Authority (FSA).

YouTeller claims on its website to be a trademark of a company called Seed Capital Ltd, and gives an address in east London. A link on the company�s contacts page then diverts to the FSA register of Small E-Money Issuers where a company called Seed Capital Ltd is indeed listed.

However, a search on the FSA website reveals the company behind Seed Capital Ltd to be Oxford Technology Management, a company based in Oxford. When contacted by eGaming Review, a spokesperson at Oxford Technology Management said the company had never heard of YouTeller.

YouTeller also gives a registration number for Companies House in the UK on its website. A search under the number given comes up with the same east London address as the YouTeller website. The only director registered is one Florian Schweitzer with an address given in Austria.

This Seed Capital Ltd was registered at Companies House in October 2006. The other Seed Capital Ltd, from Oxford, registered its name at Companies House in July of last year. Schweitzer is not registered personally with the FSA.

A spokesperson for the FSA said the matter had been passed on to the relevant department for investigation.

Neither YouTeller or Schweitzer was available for comment.

source : egrmagazine

**AussieDave** · 6th February 2007, 08:16 PM

I took a lot at YouTeller a few days ago.

Although not open for business, they are accepting sign-ups, which I found a little strange.

The first warning bell was their sign-up page, it is not SSL. (URL is not https nor is there a lock on the bottom right of browser). Any information sent is not secure. Along with asking personal questions, frankly I would not send via an unsecured protocol.

This to me places a LARGE ? over their legitimacy...

Include the above info and I smell a BIG scam in the making.

**REOdeathwagon** · 6th February 2007, 09:08 PM

The first warning bell was their sign-up page, it is not SSL. (URL is not https nor is there a lock on the bottom right of browser). Any information sent is not secure. Along with asking personal questions, frankly I would not send via an unsecured protocol.

MyWebATM does not either, Trezz. The response on this issue from the FAQ @ the MyWebATM website.

I don't see a Security Lock or an "https" address on the "Sign Up" and "Log In" pages. Are these pages secure?

The Sign Up and Log In pages are completely secure, and use digital certificates to ensure that any data shared with us is kept confidential. Digital certificates encrypt data using Secure Sockets Layer (SSL) technology, the industry-standard method for protecting Web communications.

You can verify that these pages use SSL. In Internet Explorer, simply right-click in the body of the form and select "Properties". In Firefox, right-click on the body of the form, select "This Frame", and then select "View Frame Info".