{"id":623304,"date":"2026-06-05T20:47:11","date_gmt":"2026-06-05T20:47:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/623304\/"},"modified":"2026-06-05T20:47:11","modified_gmt":"2026-06-05T20:47:11","slug":"uks-fca-freezes-euro-exchange-securities-over-crime-fears","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/623304\/","title":{"rendered":"UK\u2019s FCA Freezes Euro Exchange Securities Over Crime Fears"},"content":{"rendered":"

The United Kingdom\u2019s Financial Conduct Authority<\/a> said in a Friday (June 5) press release<\/a> that it blocked international payments company Euro Exchange Securities<\/a> from carrying out any regulated electronic money or payment services due to the regulator\u2019s concerns about risks of financial crime.<\/p>\n

The FCA also said in the release that court-appointed interim managers will oversee EES\u2019 affairs until a Thursday (June 11) court date.<\/p>\n

\u201cSerious concerns around the way EES operated its business indicated there were significant risks of financial crime,\u201d FCA said in the release. \u201cThis includes systemic weaknesses in the firm\u2019s financial crime framework and safeguarding arrangements, alongside its ownership and governance. These risks could have had an impact on both consumers and the integrity of the market.\u201d<\/p>\n

A PYMNTS email sent to the address on Euro Exchange Securities\u2019 home page was returned as undeliverable.<\/p>\n

The court appointed interim managers over EES under the Payment and Electronic Money Institution Insolvency Regulations 2021<\/a>, according to the FCA press release.<\/p>\n

The company will have an opportunity to be heard by the court on June 11, per the release.<\/p>\n

Advertisement: Scroll to Continue<\/p>\n

EES has operations in the United States and Spain, and the FCA applied to have the proceedings in the U.K. recognized in the U.S., Bloomberg News reported<\/a> Friday.<\/p>\n

The regulator said in U.S. federal court filings that it is concerned about the \u201chigh-risk nature\u201d of some EES customers and that the company may have caused \u201cwidespread breaches\u201d of money-laundering rules, according to the report.<\/p>\n

\u201cThe FCA has expressed concerns that companies in the company\u2019s network and clients of the company have been linked to money laundering, or the failure to prevent it,\u201d the FCA\u2019s U.S. filing said, per the report.<\/p>\n

This action follows moves the FCA made due to anti-money laundering concerns in 2025. During that year, the regulator fined digital bank Monzo<\/a> 21,091,300 pounds (about $28 million) for deficient financial crime<\/a> controls, fined Barclays<\/a> 42 million pounds (about $56 million) for financial crime<\/a> control lapses, and seized seven cryptocurrency ATMs in a money laundering<\/a> investigation in which four locations were searched and two people were arrested.<\/p>\n","protected":false},"excerpt":{"rendered":"The United Kingdom\u2019s Financial Conduct Authority said in a Friday (June 5) press release that it blocked international…\n","protected":false},"author":2,"featured_media":21209,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[17823,6816,59,57,58,50,5292,306,56,54,55,6242],"class_list":["post-623304","post","type-post","status-publish","format-standard","has-post-thumbnail","category-united-kingdom","tag-financial-conduct-authority","tag-fraud","tag-gb","tag-great-britain","tag-greatbritain","tag-news","tag-pymnts-news","tag-regulation","tag-uk","tag-united-kingdom","tag-unitedkingdom","tag-whats-hot"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/623304","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=623304"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/623304\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/21209"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=623304"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=623304"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=623304"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}