Noda

Quick summary on Noda

Noda.live, operated by UK-based Naudapay Limited and regulated by the Financial Conduct Authority (FCA), offers open banking services facilitating payment processing across various sectors, including online gaming. Recent reports suggest potential involvement of Noda.live in processing transactions for unlicensed online casinos, raising significant regulatory and compliance concerns.

Link to Unlicensed Online Casinos: Investigations have uncovered a substantial connection between Noda.live and the domain bankstransfer.com, which appears to function as a payment processing API for Noda.live. Notably, approximately 90% of referral traffic to bankstransfer.com originates from openbanking.noda.live, and nearly 95% of outbound traffic from openbanking.noda.live is directed to bankstransfer.com. This pattern suggests that bankstransfer.com plays a pivotal role in Noda.live’s payment processing operations. Further analysis indicates that bankstransfer.com is closely integrated into the Noda.live system, implying management by Naudapay Limited.

Additionally, Noda.live has been associated with online casinos such as Zet Casino and Great Win, entities registered in the Marshall Islands under the Philippine Amusement & Gaming Corporation. These platforms reportedly target players in Europe without obtaining the necessary regulatory permissions, operating in jurisdictions that mandate local licensing. The facilitation of payments for these unlicensed operators by Noda.live raises questions about the legality and compliance of such transactions.

Regulatory and Compliance Concerns: As an FCA-regulated entity, Naudapay Limited is obligated to adhere to stringent compliance standards, including anti-money laundering (AML) and know-your-customer (KYC) regulations. The potential association with unlicensed gambling operations could jeopardize its regulatory standing and expose the company to legal liabilities. The lack of appropriate regulatory permissions for these casinos to operate in Europe suggests that any payments processed through bankstransfer.com may be illicit, posing risks to both the casinos and Noda.live. Moreover, involvement with unlicensed online casinos raises concerns about potential money laundering and other financial crimes, which could result in reputational damage and financial penalties for the payment processor.

Conclusion: The alleged involvement of Naudapay Limited, operating as Noda.live, with unlicensed online casinos presents significant compliance and legal challenges. Despite being a regulated payment institution in the UK, its potential facilitation of transactions for operators lacking the necessary licenses to operate in Europe necessitates a thorough review of its partnerships and transaction processing practices. Ensuring adherence to regulatory requirements is imperative to mitigate potential legal repercussions and uphold the integrity of its operations.