UK Financial Conduct Authority Said on Friday (June 5) press release They blocked the international payments company Euro stock exchange securities From implementing any regulated electronic money or payment services due to regulator concerns about financial crime risks.
The financial watchdog also said in the statement that court-appointed interim directors will oversee EES’s affairs until the court date on Thursday (June 11).
“Serious concerns about the way EES conducts its business indicate there is a significant risk of financial crime,” the Financial Conduct Authority said in the statement. “This includes systemic weaknesses in the company’s financial crime framework and safeguarding arrangements, along with its ownership and management. These risks could have had an impact on both consumers and market integrity.”
An email from PYMNTS sent to the address on the Euro Exchange Securities home page was returned as undeliverable.
The court appointed interim directors of EES in accordance with the law Payment and Electronic Money Institutions Insolvency Regulations 2021According to a press release from the Financial Supervision Authority.
The company will have the opportunity to be heard in court on June 11, according to the statement.
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EES has operations in the US and Spain, and the Financial Conduct Authority (FCA) has applied for UK actions to be recognized in the US, Bloomberg News I mentioned Friday.
The regulator said in US federal court filings that it was concerned about the “high-risk nature” of some EES clients and that the company may have caused “widespread violations” of money laundering rules, according to the report.
“The FCA has expressed concerns that companies in the company’s network and the company’s clients have been linked to, or failed to prevent, money laundering,” the US Financial Conduct Authority’s filing said, according to the report.
The action follows moves by the Financial Conduct Authority (FCA) in 2025 over anti-money laundering concerns. During that year, the regulator fined the digital bank Monzo 21,091,300 pounds (about 28 million dollars) for the missing person Financial crime Controls, fine Barclays £42 million (about $56 million) for Financial crime Control lapses, seizure of seven cryptocurrency ATMs in a Money laundering An investigation during which four locations were searched and two people were arrested.
