Entity Overview
| Field | Details |
|---|
| Registered Name | NexPay Solutions Pte Ltd |
| UEN | 202234817K |
| Date of Incorporation | 14 September 2022 |
| Business Activity | Financial technology — fraud detection and risk scoring services |
| Registered Address | 80 Robinson Road, #09-12, Singapore 068898 |
| Sole Director | REDACTED — SUBJECT OF ONGOING CPIB INVESTIGATION |
| Shareholders | REDACTED (100% beneficial ownership — offshore holding structure) |
Timeline of Relevant Activity
| Date | Event |
|---|
| 14 Sep 2022 | NexPay Solutions Pte Ltd incorporated in Singapore |
| 22 Aug 2023 | API key NXP-2024-████████████████ issued — set to auto-renew annually |
| Sep 2023 | First recorded data transfer events on NexPay ingest endpoint |
| Jan 2024 | NexPay "FraudShield v2" enters beta — marketed to three Southeast Asian banking clients |
| Apr 2024 | FATF advisory notice issued against NexPay for "undisclosed acquisition of proprietary financial model data via third-party arrangements" |
| Apr 2024 | CPIB (Corrupt Practices Investigation Bureau) opens parallel enquiry — director identity sealed under investigation |
| Jun 2024 | NCB New Delhi issues Interpol cooperation request — PaySpark matter |
NexPay Solutions was incorporated 12 months before contacting any external data source. Their sole commercial product at launch — FraudShield v2 — shares architectural characteristics with PaySpark's internal fraud model that are statistically inconsistent with independent development.
FraudShield v2 — Technical Assessment
Singapore's Monetary Authority (MAS) commissioned an independent technical review of FraudShield v2 in May 2024. The review found that the model's feature weighting, transaction scoring thresholds, and edge-case handling were "substantially similar" to parameters that would be expected of a model trained on Indian fintech transaction data — a profile inconsistent with NexPay's disclosed training dataset, which consists of Southeast Asian markets only.
NexPay's product was not built from their own data. The technical reviewers concluded that FraudShield v2 incorporates a pre-trained model — the source of which remains under investigation.
NCB Note — Interpol Case Linkage
This entity background is provided in response to Bengaluru Metro Police's cooperation request ref. BMP/INTL/CB-01/01. Singapore authorities have confirmed that PaySpark Technologies' cooperation with this investigation is acknowledged and welcomed. The CPIB enquiry into NexPay's director remains active. No further corporate detail can be shared pending that investigation's conclusion.