Latest news with #FederalJudicialPolice
Yahoo
a day ago
- Business
- Yahoo
Belgian prosecutors initiates probe into Worldline
Belgian prosecutors have launched an investigation into the Belgian unit of French payments processor Worldline, following allegations of money laundering activities. The probe was triggered by articles in Le Soir and De Standaard, which claimed the company processed payments for firms involved in illegal activities. 'According to these newspapers, the company allegedly processed payments for companies engaged in illegal activities and for which money laundering regulations were allegedly not respected,' the Brussels Public Prosecutor's Office said in a statement, as reported by Bloomberg. The investigation has been entrusted to the Federal Judicial Police, the statement added. The allegations stem from reports by the European Investigative Collaborations network, comprising 21 media outlets across Europe. Worldline, in a statement to Reuters, said it has taken note on the probe and wil cooperate with authorities. The company also noted that since 2023, it has strengthened merchant risk controls and terminated non-compliant client relationships. In Sweden, the Financial Supervisory Authority summoned Worldline for a meeting to address the allegations. 'Questions about the information described' and 'how the company works to ensure that their services cannot be exploited for criminal purposes,' were raised, FSA spokesperson Karin Franck said in an emailed statement to Bloomberg. According to Dagens Nyheter, Worldline allegedly moved high-risk clients from its Belgian unit to its Swedish subsidiary after Visa raised concerns. Worldline's CEO, Pierre-Antoine Vacheron, described the media reports as an orchestrated campaign and an 'attack' on the company, asserting that Worldline is 'fully committed to strict compliance with regulation and risk prevention standards.' "Belgian prosecutors initiates probe into Worldline " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Finextra
4 days ago
- Business
- Finextra
Belgium prosecutors launch probe into local Worldline unit
In the wake of allegations about payments processor Worldline earlier this week, Belgian prosecutors have opened an investigation into potential money laundering activities at the firm's local unit. 0 Shares in French giant Worldline plummeted on Wednesday after a "Dirty Payments" investigation, which was led by the European journalism network EIC and 21 media outlets, alleged the company covered up client fraud to protect revenue. Now, the Brussels Public prosecutor says it has opened an investigation, entrusted to the Federal Judicial Police, amid claims that Worldline processed payments for companies involved in illegal activities. In a statement to Reuters, Worldline says it will cooperate with the authorities. Worldline has strongly defended itself against the allegations, stating that it has conducted a "thorough review" of its high-brand-risk portfolio, such as online casinos, stockbroking and adult dating services, since 2023. It added that it maintains "zero-tolerance" for non-compliance and engages regularly with regulatory authorities. In a call with analysts reported by Bloomberg, CEO Pierre-Antoine Vacheron, said Worldline had been 'attacked' by the media, and that there was 'nothing new' in the reports aside from an 'unacceptable narrative'.
Bloomberg
4 days ago
- Business
- Bloomberg
Worldline Belgian Unit Probed as Fraud Allegations Escalate
Worldline SA 's Belgian arm is under investigation by Brussels prosecutors as the fallout continues following press reports over alleged fraud at the payment services company. 'According to these newspapers, the company allegedly processed payments for companies engaged in illegal activities and for which money laundering regulations were allegedly not respected,' the Brussels Public Prosecutor's Office said in a statement on Friday. The probe focuses on the Belgian entity of the Worldline group, and has been entrusted to the Federal Judicial Police, prosecutors added.
