US Department of Justice reportedly investigating payment company Euro Exchange and its affiliated businesses
DOJ Opens Inquiry Into Payments Firm Euro Exchange
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The US Department of Justice is reportedly investigating businesses surrounding payment company Euro Exchange, seeking information from the administrator overseeing its liquidation and issuing a subpoena to its affiliated company, Banex International Bank. Previously, UK authorities seized Euro Exchange in June over possible AML violations, after which the FCA investigated its possible involvement in illegal activities.
Following regulatory action in the UK, the US Department of Justice reportedly sought information from the liquidator and affiliated bank, highlighting the cross-border enforcement pressure facing the same payment company network.
Source:PYMNTS · pymnts.com