Webmoney Responds to False Allegation

Thanks to DGC Magazine for the heads up.

Two weeks ago, Security Focus has released an article on digital money being cyber hackers’ paradise for laundering money and has mentioned about Web Money Transfer being in Russia and the US has no chance of cooperating with them to weed out crimes since they’re located in Russia as compared to Neteller and E-gold (who’s now still under DOJ)

Web Money team has responded to Security Focus’s allegations with a lengthy explanation which kinda clears the air on the irresponsibility of SF for not contacting Web Money first before releasing the press.

To: Security Focus From: WebMoney Transfer

Re: Open Letter to the American Internet Community and US Law Enforcement Agencies.

Dear Sir,

It is with regret, that today we are forced to contact you through this open letter. Understand that we will widely disclose to the public our position and point of view with respect to the numerous misrepresentations, untruthful information and 100% unsubstantiated claims that you have attempted to level our our company through your article.

WebMoney Transfer is a financial market leader in Russian and CIS. We have 10 years of strong ethical operating history, several banking awards and positive international recognition. We are the only global online payment solution with a widely used in-house customer arbitration service. The program operates 24 hours a day, 7 days a week solving disputes and investigating suspicious account activity. Our company diligently works to protect our clients from misuse of the online payment system.

For many consecutive years now, we have fully cooperated with local law enforcement agencies, cyber-crime investigation teams and police. Our executives are often key speakers at national and international security forum events. Recently we engaged others during an International practical conference on fighting against cybercrime and cyber terrorism 2006. During the event our team was face to face talking with many agency representatives providing them all of our contact information, offering solutions and showing our 100% intention to cooperate in the fight against online crime.

Since that time, 2006, now we have never received any requests from US Law Enforcement agencies, neither have we ever been informed about such requests by the local law enforcement agencies which we are in constant contact.

During this same time period, other European colleagues, have requested such information, we have met with them and provided any and all helpful details available.

Our reputation among end-users and global merchants is very valuable to our company. Your totally incorrect article compromise our integrity and damage our public corporate profile. With this open letter please be aware that we will now do our utmost to prevent the media, foreign authorities other companies or persons, who have never contacted us, to slander our reputation with such liable comments in the press.

It our policy to cooperate with cybercrime investigators and with this letter please understand us when we say “Ask, and it will be given you. Seek, and you will find. Knock, and it will be opened for you.” We are available for your discussions and cooperation.

Regards,

WebMoney Team