RatEx42, the leading compliance intelligence platform, today announced the formal listing and Red (High Risk) rating of Canamoney Exchange Ltd, operating as CenturaPay. This critical designation follows FinTelegram’s extensive investigation into the company’s pervasive role as a fiat-to-crypto “on-ramp” for illegal offshore casino schemes, effectively acting as a high-risk bridge between the Canadian financial system and prohibited iGaming jurisdictions.
The Canadian MSB Loophole: A Global On-Ramp for Illicit Funds
“CenturaPay is a textbook example of how a seemingly legitimate Money Service Business (MSB) registration can be exploited to facilitate financial flows for entities operating outside the law,” states a Senior Compliance Analyst at FinTelegram, RatEx42’s intelligence partner. “While Canamoney Exchange Ltd holds a valid FINTRAC registration in Canada, our investigations reveal that its primary business involves processing player deposits for unlicensed casinos like those within the Stellar Group and Spinbara.“
The modus operandi is simple yet highly effective: players in jurisdictions where online gambling is illegal (such as Germany or Italy) use CenturaPay to “buy crypto” via traditional bank transfers or credit cards. This crypto is then instantly routed to the offshore casino operators. This process masks the true nature of the transaction from the player’s bank, circumventing anti-gambling blocks and AML controls.
Why the “Red” Rating?
The Red (High Risk) rating by RatEx42 signifies entities that pose a significant and imminent threat of financial crime, regulatory non-compliance, and reputational damage to their banking partners.
“CenturaPay’s consistent appearance in the ‘payment cascades’ alongside other recently exposed high-risk processors like utPay and Daxchain, confirms its deep integration into the shadow banking network of the iGaming sector,” the analyst adds. “Their use of a Canadian MSB license to provide a veneer of legitimacy for these high-risk activities is a major concern for global financial integrity.”
A Growing Concern: The North American Connection
The exposure of CenturaPay highlights a concerning trend where Canadian MSBs are increasingly becoming key conduits for offshore gambling funds, mirroring the pattern previously observed with Baltic VASPs. As European regulators tighten their grip with MiCA (Markets in Crypto-Assets) and other strict frameworks, operators are actively seeking new, less-regulated corridors in regions like North America.
Financial institutions, especially those providing banking services to Canadian MSBs, are urged to conduct enhanced due diligence. The high volume of “crypto purchase” transactions originating from these entities, often with unusual patterns, should trigger immediate red flags.
Call to Action for Financial Institutions & Players
RatEx42 urges all financial institutions, acquiring banks, and players who have routed funds through CenturaPay (Canamoney Exchange Ltd) to reassess their exposure. Banks should scrutinize transaction descriptors and underlying merchant activities of their MSB clients. Players who have deposited via CenturaPay at unlicensed casinos should be aware that these transactions may not offer the same consumer protections as regulated payment methods.
View the full, detailed 17-point Compliance Profile for CenturaPay on RatEx42.com
About RatEx42: RatEx42 is a cutting-edge compliance intelligence platform that provides real-time, in-depth risk assessments and investigative reports on high-risk payment processors, VASPs, and financial entities. Powered by FinTelegram’s extensive network, RatEx42 helps financial institutions, regulators, and businesses navigate the complex landscape of financial crime and regulatory compliance.
