DAREX Tier: Not applicable (digital assets service providers only)

Paradis Tech Ltd masquerades as a generic FinTech software provider while functioning as a critical settlement beneficiary for illegal European casino networks. Utilizing a Canadian MSB registration and a virtual office in Ottawa, it acts as the “Merchant of Record” for Open Banking transactions initiated by Mellifera/Yapily, effectively washing funds for operators like BetAlice.

R42 Risk Signal

• Traffic Light: 🔴 RED (High Risk)

• Confidence Grade: A (Confirmed Settlement Role in Illegal Schemes)

Key Data Table

Operational Overview

Paradis Tech operates with a classic “shell” profile. Its public-facing website is a generic placeholder claiming to offer “innovative payment technology,” but lacks specific product details, API documentation, or client testimonials. In reality, the entity serves as a financial funnel. It is the designated payee (beneficiary) for Open Banking transfers initiated by European processors, allowing offshore casinos to collect funds from regulated markets (UK, Italy, Germany) under the guise of “tech services.”

Regulatory Framework

The entity operates under the Canadian Money Services Business (MSB) regime regulated by FINTRAC.

• Arbitrage Risk: Canada’s MSB registration is often exploited by global high-risk processors because it provides an OECD-recognized registration number without the rigorous capital and audit requirements of an EU Electronic Money Institution (EMI) license.

• Status: Active LEI and corporate registration confirm its legal existence, but its lack of physical footprint suggests it is a “rent-a-rail” vehicle.

Ownership & Executives

• UBO Status: Unknown / Shielded. British Columbia corporate records do not publicly disclose beneficial owners without a specific subpoena or fee-based retrieval, a feature often abused by offshore syndicates.

• Management: No public leadership team, LinkedIn presence, or identified compliance officers exist for this entity.

Corporate Structure

• Jurisdiction Mismatch: The company is incorporated in British Columbia (West Coast) but utilizes a virtual office address in Ottawa, Ontario (East Coast) as its registered headquarters. This 4,000km disconnect is a hallmark of offshore-managed shell companies.

• Virtual Presence: The address 889 Bank Street, Unit 201C is a known mail-forwarding and virtual office hub used by hundreds of non-resident businesses.

Technical Footprint

Paradis Tech does not appear to possess its own proprietary payment gateway technology. Instead, it is integrated as a settlement endpoint within third-party stacks:

• Inbound: Receives funds via Yapily (Open Banking API) and Mellifera Kartiera (Malta EMI).

• Settlement: Likely converts fiat deposits into cryptocurrency or pushes funds to offshore master accounts to settle with casino operators.

Merchant/Customer Footprint

• Primary Client: BetAlice Casino (and its associated white-label network).

• Role: Paradis Tech appears on bank statements and Open Banking authorization screens as the recipient of funds for players depositing at BetAlice, effectively masking the gambling nature of the transaction.

Enforcement/Litigation History

• Direct Actions: None public to date.

• Association: Directly linked to the payment rails of BetAlice, which is actively blacked out by Italian authorities (ADM) and operates illegally in the UK.

Red Flags

• Virtual Office Shell: Use of a shared mailbox in Ottawa while incorporated in BC.

• Gambling Proxy: identified as the payee for unlicensed casino deposits.

• Opacity: Zero transparency regarding ownership, management, or actual business location.

• Regulatory Arbitrage: leveraging a Canadian MSB registration to process European regulated traffic.

Merchant Due-Diligence Checklist

For acquiring banks or EMI partners:

• [ ] Verify UBOs: Demand full notarized passport copies of the Ultimate Beneficial Owners to ensure they are not nominee directors.

• [ ] Proof of Operations: Request a video call or site visit to verify actual physical presence in Canada.

• [ ] Transaction Audit: Sample 50 random inbound transactions to identify if the “software” payments are actually retail gambling deposits.

• [ ] License Check: Confirm if Paradis Tech holds any specific gambling software licenses (e.g., UKGC, MGA) to justify processing iGaming funds.

Evidence Box (Sources)

• LEI Registry: Record 984500D2A6K03EDFA743 confirming the BC incorporation and Ottawa address.

• BetAlice Investigation: Screenshots confirming “Paradis Tech Ltd” as the payee on the Wise/Yapily Open Banking interface.

• Address Verification: 889 Bank Street identified as a virtual office provider.

Update Log

• February 26, 2026: Initial RatEx42 profile generated. Risk status set to RED following the BetAlice payment rail investigation.

Whistle42 Call to Action

Do you know who controls Paradis Tech? We are looking for the real operators behind this Canadian shell. If you have information on the beneficial owners, their banking relationships, or their connection to the BetAlice network, please contact us. Submit anonymously at Whistle42.