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Wirecard UK ordered to freeze customer funds by finance regulator

June 26, 2020 at 01:46PM

FCA says its main aim is to protect consumers who use the scandal-hit payment service

The financial watchdog has stepped in to order the UK arm of payments firm Wirecard to freeze customer funds, after its German parent company filed for insolvency amidst a €1.9bn (£1.69bn) alleged accounting fraud.

The Financial Conduct Authority has ordered the UK arm of Wirecard, which is authorised to issue e-money and provide payment services including loading prepaid cards, to cease all regulated activity and freeze all assets and funds.

Continue reading… via Banking | The Guardian

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