MNB bars 5Gulden companies from unlicensed activity

Deals

Image by Jessica Fejos

The National Bank of Hungary (MNB) today said it barred two companies, both called 5Gulden Corporation, from any activity requiring a permit from or registration with the central bank, Hungarian news agency MTI reported.

The central bank and financial market watchdog also launched a procedure against the companies, registered in Belize and the Seychelles.

The companies appear to have ties to New Zealand-based 3TG FX Financial, which has also come under scrutiny for operating in Hungary without a license, the MNB said.

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