Amit Klatchko
Limassol, Cyprus
Amit Klatchko of Praxis Cashier Systems is accused of aiding fraudulent brokers flagged by regulators, with reports linking the company to 60-70% of broker frauds.
1.5/5
Trust Score
Composite score based on public data signals and verifiability indicators.
0
Red Flags
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Created: January 24, 2025 • Updated: September 1, 2025
Amit Klatchko, co-founder and director of Praxis Tech (also known as Praxis Cashier), positions his company as a fintech innovator in payment orchestration. However, mounting reports connect Praxis to fraudulent brokers, opaque business networks, and serious compliance risks, raising concerns about its integrity and oversight.
Regulatory Warnings over Scam Brokers
Praxis Cashier has been repeatedly associated with brokers explicitly flagged by regulators such as the UK’s Financial Conduct Authority (FCA) and Spain’s CNMV. Capital Way, one of these brokers, was issued an FCA investor alert in 2020 while still using Praxis to process client funds, casting doubt on the company’s due diligence practices.
Alleged Role in Broker Scam Ecosystem
Independent investigations highlight Praxis as a major facilitator for online broker scams. Reports suggest that up to 60–70% of fraudulent brokers worldwide rely on Praxis to handle deposits, demonstrating the scale of its integration within this ecosystem.
Opaque Business Practices and Offshore Structuring
Praxis operates through a web of offshore companies registered in Cyprus, the British Virgin Islands, and St. Vincent & the Grenadines. These jurisdictions are known for light regulatory oversight, enabling opaque routing of funds through shell entities and white-label arrangements.
AML and KYC Compliance Gaps
Praxis is not a licensed payment institution and reportedly implements limited Anti-Money Laundering (AML) and Know Your Customer (KYC) safeguards. Analysts argue that this creates an environment conducive to layering illicit funds, undermining broader financial system safeguards.
Legal Exposure and Reputation Damage
Although no criminal charges have been publicly filed against Klatchko personally, regulators and investigative platforms have repeatedly drawn attention to Praxis’s connections with scams. Intelligence Line, for example, assigns Klatchko a poor trust rating, highlighting persistent reputational risks.
Amit Klatchko’s leadership of Praxis Tech is overshadowed by recurring regulatory warnings, systemic ties to fraudulent brokers, and significant compliance deficiencies. While the company continues to brand itself as a fintech innovator, its reliance on opaque structures and controversial clients presents severe reputational and operational risks. These concerns warrant close scrutiny from regulators, industry partners, and investors before any engagement.
Compliance and Regulatory Intel
| Risk Category | Assessment Question | Status |
|---|---|---|
| Liabilities | Does He/She Amit Klatchko have any significant outstanding liabilities that may pose financial risks? | Not Known |
| Undisclosed Relations | Are there undisclosed business relationships or affiliations linked to He/She Amit Klatchko? | Possibly Yes |
| Sanctions or Watchlist Matches | Is He/She Amit Klatchko listed on any international sanctions or compliance watchlists? | Possibly Yes |
| Criminal Record | Does He/She Amit Klatchko have a record of criminal activity or related investigations? | Possibly Yes |
| Civil Lawsuits | Are there civil lawsuits, past or present, involving He/She Amit Klatchko? | Potentially No |
| Regulatory Violations | Has He/She Amit Klatchko faced regulatory violations or penalties? | Potentially No |
| Bankruptcy History | Has He/She Amit Klatchko filed for bankruptcy or been involved in any bankruptcy proceedings? | Definitely Yes |
| Adverse Media Mentions | Have there been significant adverse media mentions related to He/She Amit Klatchko? | Not Known |
| Negative Customer Reviews | Are there negative reviews or complaints from customers or clients about He/She Amit Klatchko? | Definitely Yes |
| High-Risk Jurisdiction Exposure | Does He/She Amit Klatchko operate within or have exposure to high-risk jurisdictions? | Possibly Yes |
| Ongoing Investigations | Is He/She Amit Klatchko currently subject to any ongoing investigations? | Definitely Yes |
| Fraud or Scam Allegations | Have there been fraud or scam allegations involving He/She Amit Klatchko? | Definitely Yes |
| Reputational Risk Incidents | Have there been incidents significantly impacting He/She Amit Klatchko’s reputation? | Definitely Yes |
| High-Risk Business Activities | Is Amit Klatchko engaged in any high-risk business activities? | Definitely Yes |
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- We analyze all costs including rate structures (interchange-plus, tiered, flat-rate, etc), monthly fees, equipment costs, early termination fees, and hidden charges. This data is gathered from service agreements, statements and client feedback
- We analyze all costs including rate structures (interchange-plus, tiered, flat-rate, etc), monthly fees, equipment costs
- We analyze all costs including rate structures (interchange-plus, tiered, flat-rate, etc), monthly fees, equipment costs, early termination fees, and hidden charges.
Source of Information
- 1 fintelegram The CySEC Scam Tourism – Launch of Investigative Series Retrieved 07/08/2020
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When issues arose, it was impossible to get a straight answer. The team seemed to deflect blame rather than take responsibility. It’s frustrating when you’re left dealing with the fallout of their mistakes
Getting updates was a nightmare. Emails went unanswered for days, and when we finally got a response, it was vague and unhelpful. Communication is key, and they failed miserably at it.
The sales team was overly pushy and aggressive. They made grand promises but didn’t provide enough details to back them up. It felt like they were more interested in closing the deal than ensuring it was the right fit for us.
Getting updates was a struggle. Emails went unanswered for days, and when they did respond, the answers were vague. It felt like we were constantly chasing them for information