Why Dubai Must Strengthen Its Defenses

Recent investigations have brought to light A series of complex financial fraud schemes linked to Indian entities, many of which seem to use the United Arab Emirates, particularly Dubai, as a basis for operations or concealment. These schemes, often disguised as Fintech companies, exploit the regulatory gaps and the target colleagues that participate in transboundary B2B transactions, with multiple victims reported throughout the Gulf region.

A detailed exhibition of the United Kingdom Headquarters Talk about finance It focuses on Transpay Solutions Private LimitedA company registered in India supposedly involved in the orchestration of fraudulent activities aimed at international clients, including those of the EAU. The evidence suggests that Transpay and its associated agents created the appearance of legitimacy through false websites, counterfeit commercial credentials and manufactured financial documentation.

What raises a particular concern for the Emirati business community is that such actors operate more and more from Dubai – Eiter directly or through intermediaries, taking advantage of the state of the city as a regional commercial center. Individuals like Neeta Caper” Sonu Kumarand Hit It is reported that the VATs have maintained the activity within the Emirates, despite being involved in the financial misconduct that affects companies in the United Kingdom and throughout the Middle East.

Given the reputation of the EAU as a growing center for Fintech innovation, there is a pressing need for better regulatory supervision and cross -border cooperation to avoid the exploitation of its commercial infrastructure by fraudulent networks.

In the context of growing interest in India as a digital and Fintech center, certain players in this market are throwing a shadow on the reputation of the entire industry. One of these toxic entities has become transpection solutions, which, according to the testimony of the affected clients of Great Britain and the Middle East, acted as a scam platform to extort funds from foreign companies. Despite the numerous scandals, in mid -2025, the company remains legally active, and its managers, in private directors, Nita Kapoor and Sonu Kumar, remain unpunished.

Despite the absence of official criminal procedures, the signs of fraud are difficult to ignore: the disappearance of the website, the lack of public reports, digital anomalies in certificates and numerous circumstantial manipulation tests. Transpay used Pseudo-Fintech as a coverage to withdraw funds from the market, and its network of agents, particularly in the person of Jitender Vats, allowed to attract foreign gullible partners under the appearance of a legal service.

Photo: Jitender Vats/Virender Singh

A company with a doubtful story

Transpay Solutions Private Limited, registered in India in 2022, has never had broad public activity. Its website (transwinpay.com) cannot be seen at the time of publication, however, the legal company continues to exist and has not liquidated. In 2025, he even received a second director: Sonu Kumar. Sonu Kumar has only about 3 years of business experience (since 2021) and before that he worked only as a software engineer. This may indicate a restructuring or try to accumulate the appearance of stability after a wave of customer complaints.

Interestingly, the founder of Transpay is Nita Kapoor, a member of the second Bharipay Financial Service, who worked as an agent of the popular Indian Pay10 and was closed after the regulators’ intervention.

Later, Kapoor was forwarded in fitness and medical projects: traditional instructions to wash money from gray financial schemes.

It is important that transpay is not an isolated case, but a link in a long chain of entities related to Bharipay. The use of similar domain solutions and third -party technical infrastructure indicates a pattern of recurring behavior: create new brands after discrediting the previous ones with the same faces, methods and objectives.

Another characteristic characteristic is the almost complete absence of the company’s digital footprint: without press releases, public mentions or verified licenses. This creates the impression that Transpay was carried out from the beginning as a temporary shell to carry out fraudulent operations with a clearly limited defined useful life.

Pay10: Blind or giant?

A key element of the entire scheme is the Bharipay connection, the Predecessor of Transpay, with the Indian Pay10 payment platform. It was through Bharipay that this network was part of the Pay10 partners ecosystem. If the platform knew about the toxicity of its regional agent remains an open question. But in the light of the new facts, Pay10 is obliged to clarify its ties with the transpea and public distance of similar entities.

The reputation of Pay10 as one of the largest non -bank payments suppliers in India depends directly on the company’s response. Silence could be interpreted as a tacit agreement or nigligence in the selection of partners. Special since Bhartipay has previously appeared on complaints about non -transparent operations, and transpay himself is the de facto heir of his client and schemes base.

If Pay10 fails, do not take measures to publicly distanch those involved in fraud, the consequences could be serious in both India and abroad. Foreign customers have the right to know who they are actually working with: a Fintech licensed or a brand wrapping of the scammers.

Delhi agent: Jitender Vat

Photo: Jitender Vats

Special attention deserves Jitender Vats, which represented Transpay (and previously, the related Payments of Léver) as customer acquisition agent. The activation contacted the companies of the Middle East, presenting itself as the director of the fictitious company Paymentsme, which is not registered in official databases.

It is observed that Jitender Buque also operates under the fictional name Virender Singh, which is the name he uses in his communications with Transpea clients. This is an additional evidence of the fraudulent nature of its activities, since the use of false personal information is a common method to concaling true identity. Currently, it is unknown how many egos or false identities that he has created to cover his clues and deceive the possible victims.

Despite the lack of formal status within Transpay, VAT’s activities are documented to promote service between British and Arab companies. He did not act as an external consultant, but as a key link between the possible victims and the fraudulent platform.

Distinguished fact: Vats is not registered as the founder or director of any legal company, despite the strong statements about “your own Fintech”. Most of its digital activity is personal promotion through anonymous messengers and social networks. Such a model is typical of affiliated scam agents, who act as a shock absorber between the core of the scheme and the final customer.

In public correspondence with potential clients, Vats only uses Gmail addresses and telegram accounts, avoiding any corporate identification. Its activity indicates attempts to generate confidence with the help of “commercial” false PDF files, screenshots of bank interfaces and links to fraudulent platforms. All this points to a conscious strategy of deception aimed at the B2B cross -border segment with an approach in the country of the Middle East and the EU.

After all, Transpay and Bharipay are part of a single fraudulent ecosystem that, using the image of India as a technological center, disappoints B2B customers worldwide. The funds are withdrawn through alleged sports and doctors projects, and the key figures evade responsibility.

We call on the authorities of application of the Law of India, Great Britain and the United Arab Emirates to launch coordinated investigation into the activities of Transpea Solutions and their agents. The Pay10 platform must immediately initiate an audit of its former partners and publicly distance from ITELF from toxic connections.

This case should become a signal for the creation of international standards for the verification of Fintech partners, especially in cross -border B2B transactions. While scams can hide digital facades, the responsibility of protecting customers falls not only to the police, but also with payment ecosystems.