BridgerPay

Scam-facilitating PayTech in Cyprus

BridgerPay is the brand and platform of Bridger AI Limited, registered in Cyprus, established by Israeli Forex veteran Ran Cohen (LinkedIn profile) in 2018. Cohen runs the company together with his partner Nati Harpaz, the former CEO of the Australian e-commerce group Catch.com. Ran Cohen‘s past lies in the Traders Group and partnership with some guys considered by the OCCRP the masterminds of the giant scam machine.

Sometime in 2017, Finance Magnates reported that a Cypriot investment firm bought a 50% stake in Ran Cohen‘s Traders Group, which was considered a training camp for aspiring scammers. Cohen allegedly received around €400,000 for 50% of the shares in Traders Group. The cooperation with the new guys went well for a few months, we heard. But then, in 2018, Cohen’s partners demanded the remaining 50% and got it.

Read more here on Cohen’s profile on PayCom42.

The payment processor reportedly works with artificial intelligence (AI) to minimize payment rejections by credit card companies and banks via its retry engine. The Visa Service Directory shows that Bridger AI Limited operates as an ISO for high-risk merchants. One of the PayTech’s strategic investors is Amir Turgeman, an Israeli investor living in Cyprus. He acquired a 20% stake in Bridger AI Limited. In Cyprus, Amir Turgeman is considered a respected and discreet investor with experience in forex. He is also the managing director and beneficial owner of Opticlicks Limited (www.opticlicks.com.cy), among others. Turgeman, who likes to move around in a Maybach with a chauffeur, has his offices in Limassol near the marina. Hence the nice background picture on his LinkedIn profile. Turgeman is the second-largest investor in BridgerPay.

Another investor is said to be the Israeli South Israel Bridge Fund (SIBF), co-founded and presided by the former Mossad boss Tamir Pardo. BridgerPay calls itself a SaaS company to save the merchants the tech resources required to manage multiple payment service providers, save failed transactions, and cart abandonment.

BridgerPay is notorious for being a leading scam-facilitating PayTech.  Many industry experts insist that  PayTechs such as BridgerPay would have to be licensed by the relevant regulator. In any case, they have to comply with the applicable KYC/AML regulations and are therefore not allowed to accept scam customers. BridgerPay has been exposed as a facilitator in a variety of broker scams. Just recently, in the BimFX24 broker scam, the UK FCA warned against. Although Ran Cohen assured us that they would eliminate such customers immediately, we downgraded BridgerPay from Orange to Red in our compliance framework.

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Jurisdiction

Cyprus

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