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A Million EPayments Accounts Frozen Due to Regulation Control

EPayments Systems Ltd, a United Kingdom-authorized electronic money institution, must suspend online payment operations due to the Financial Conduct Authority’s anti-money-laundering (AML) procedures.


EPayments has released a short statement on its website and has sent out emails to its customers to give a few details on the FCA’s regulatory checks. This regulation has frozen ePayments one million user accounts and has banned new account openings.


“Following discussions with the FCA, ePayments has agreed to suspend activity on customer accounts until remedial action has been undertaken to the satisfaction of the FCA.”


The FCA has allowed ePayments to provide services including issuing virtual accounts with IBAN, prepaid cards, processing payments, issuing e-money and handling electronic money wallets throughout the European Union since its initial launch. Read More...

A Million EPayments Accounts Frozen Due to Regulation Control
EPayments Accounts Frozen

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