UAB epayblock services restricted in Hungary
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.
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