EPayments Suspended Operations, 1 M Accounts Frozen

The ePayments electronic payment platform has been forced to suspend operations. About a million user accounts were frozen. In addition, the company announced a ban on opening new user accounts. The reason for the suspension is an investigation by the UK financial regulator (FCA). The Agency ordered ePayments to take the necessary measures to combat money laundering (AML). 

The payment system has already published a statement on its website about the suspension of activities, and sent notifications to account owners. In messages sent to users’ emails, the company specifies some details of the blocking, and also claims that the freezing of accounts is temporary. Representatives of ePayments claim that they need time to meet the requirements of the regulator. The payment system does not specify the terms for restoring access to accounts. 

At the moment, any deposit or withdrawal via ePayments is prohibited. Money transfers and any kinds of payments are also not possible. EPayments cards are blocked.

Law&Trust offers services to individuals and companies that have worked with ePayments. Our lawyers will help you choose an alternative payment system, create an account, pass the verification procedure, and fulfill other requirements.