A British payments business linked to an alleged $150 million money-laundering scam has agreed to forfeit £2 million after legal action by the City regulator.
QPay Europe has “consented” to pay the funds to the government after the Financial Conduct Authority claimed the money was the proceeds of “illegal activity” connected with an alleged payment processing fraud in America.
Four people have been charged by the US Department of Justice with conspiring to deceive banks and the Visa and MasterCard credit card networks into processing funds from “prohibited and high-risk” activities including debt collection, trade in prescription drugs and payday lending.
The four include Ahmad “Andy” Khawaja, owner of Allied Wallet, a payments business that prosecutors claim was involved in so-called transaction laundering. This allegedly
