Is 'Remitzapp' remittance app a scam?

#1 · September 10, 2024, 7:19 pm

I recently heard of some folks doing remittance India at a very good conversion rates and wanted to know if its real? Are these methods of transactions legit? Are these companies legal and are these safe to use?

I tried to send some funds too but their process is through a mobile form? Also, they have an app which looks very non functional - https://apps.apple.com/ca/app/remitzap/id6449396675
https://play.google.com/store/apps/details?id=app.remitzap.com&hl=en_CA

any advice?

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#2 · September 10, 2024, 7:32 pm

I think you are talking about Remitzap and not Remitzapp. I couldn't find any business or remittance companies other than Remitzap.

If it is, Sounds sketchy - Please stick to using well reputed and rated platforms. Stay away from platforms like these. Did a quick investigation on the app and it looks very sketchy, the website is incomplete and does not have any proper documentation, support or community - first red flag. How will you reach out to these folks if something goes wrong?
Alos, why would they use a form if they have a mobile app (with very few installs and no reviews)?
The only employee I could find on LinkedIn was this random dude - https://www.linkedin.com/in/sanin-saleem-kt-8452aa162/?originalSubdomain=ca not adding any confidence.
Ontario business lookup shows the business run from a home in Scarborough - lol. This Remitzap is definitely a scam for sure.

There are a lot of remittance apps out there that is explicitly used for money laundering and this could be - most likely is one of them. Stay away, stay far away.
https://www.fatf-gafi.org/en/publications/Methodsandtrends/Moneylaunderingthroughmoneyremittanceandcurrencyexchangeproviders.html#:~:text=Several%20case%20studies%20described%20in,instances%2C%20for%20terrorist%20financing%20purposes

Quick way to confirm -

Reach out to them and request regulatory documents.
Ask if they issue receipt of remittance - all legit folks do.
Ask for the headquarter address? - Ideally it should be listed on the website.

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#3 · September 10, 2024, 7:45 pm

Thanks a ton. Yes, its called Remitzap and I just came to know there are a lot of people who got screwed with people and business like this. Staying away for sure.
Its really sad these guys target the new comers and immigrants.

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