PayFuture Statement – Recent Events at ICE 2024

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In response to recent events at ICE 2024 PayFuture Ltd, a UK owned and operated company, issues the following statement to clarify events leading up to the recent Disinformation as a Service attack (DaaS) against PayFuture, and to refute several potentially damaging accusations made against the UK business and Payfuture Technologies LLC based in Dubai.

The recent events at ICE 2024 combined with leaflets and published articles are evidence of a Disinformation as a Service Attack (DaaS) aimed at falsely accusing Zaki Farooq and PayFuture of nefarious activity. These are lies positioned as facts that PayFuture and Farooq refute in full.

DaaS attacks are characterised by distorting or skewing minimal factual information with multiple fictional elements to present an entirely false narrative and discredit a business and/or a person. The perpetrators of this DaaS attack have relied on applying facts and figures from other unconnected businesses. This deliberate strategy is intended to tarnish our organisation’s reputation and mislead the public.

Statements of fact:
PayFuture Ltd in the UK is owned, managed, and run by Manpreet Haer and is a different legal entity from the Dubai-based business of the same name.
Mr Farooq is the CTO and Co-Founder of the Dubai based business.
Mr Farooq is not involved in the running or management of PayFuture Ltd in the UK.
Zaki Farooq is not a director, nor is he acting as a director of any Limited company in the UK, in full compliance with UK law.
Mr Farooq, Mr Haer, or any business with the PayFuture name, have never broken the law and are not currently under investigation.

Zaki Farooq, CTO PayFuture (Dubai), comments: “Recent articles, social media, leaflets, and other materials have been put in the public domain containing malicious accusations that PayFuture is involved in nefarious activities. These accusations which include implicating members of my family are wholly untrue and without basis. I have initiated legal proceedings which are already underway in the UK and Cyprus to leave the truth in no doubt.”

Manpreet Haer, CEO at PayFuture, comments: “The allegations of stealing money against Farooq and PayFuture are entirely false. I have worked closely with Zaki for several years and can attest to his integrity and commitment to ethical business practices. Farooq has been an asset to the business where I am partnered with him and has contributed significantly to our success internationally.”

PayFuture enjoys a fantastic relationship with its hundreds of customers internationally (outside of the UK) and is renowned for being one of the most credible and trusted technology businesses as can be seen by its exponential growth over the past few years.

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