ADVERTISEMENT

UAB epayblock services restricted in Hungary

Fintech

The National Bank of Hungary issued a notice on Friday the Bank of Lithuania has launched an investigation of electronic payment platform UAB epayblock which was registered as a foreign electronic money institution in Hungary in July 2020, according to a report by state news wire MTI.

The Bank of Lithuania has received a number of complaints and other supervision-relevant information that some of the customers of UAB epayblock have been potentially using its services for fraudulent purposes and has imposed temporary restrictions on the provision of services to legal persons in order to prevent potential irregularities.

UAB epayblock is obligated to inform its customers about the Bank of Lithuania's decision but the MNB also issued its own notice, being among the central banks' and financial supervisors affected by the company's activities.

ADVERTISEMENT

MKIK: Local business tax should be maintained Analysis

MKIK: Local business tax should be maintained

Parl't votes to phase out savings coops integration framewor... Parliament

Parl't votes to phase out savings coops integration framewor...

Roche Szolgáltató appoints P&C business partner lead Appointments

Roche Szolgáltató appoints P&C business partner lead

Budapest airport shuttle bus service expanded City

Budapest airport shuttle bus service expanded

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.