Black Banx

Black Banx (previously WB21) is a globally-acting high-risk payment processor. The German Michael Gastauer and his son Philip Gastauer are the owners. The company promises to get bank accounts for individuals and merchants in over 180 countries in just minutes.

Black Banx claims to have 8 million customers and $10 billion in monthly transaction volume on LinkedIn and its website. We doubt the figures of this high-risk and dark side payment processor. The UK FCA has issued a warning against Black Banx.

The truth, however, is that Black Banx and Michael Gastauer have been involved in huge scams such as OneCoin or QuadrigaCX.

We include Black Banx in our “Black Compliance” list.