FCA Seizes $2.6M from QPay over Transactions to Online Gambling Businesses
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The UK Financial Conduct Authority has seized a total of £2 million ($2.60 million) from QPay Europe. The money has been tied to a $150 million bank fraud in the United States.
FCA seized $2.6 million from QPay over transactions to illegal businesses. The transactions involved online gambling businesses and debt collection and prescription drugs merchants. Qpay received the funds from a Fintech International Q Software WLL. FCA was responding to a $150 million illegal and high-risk payment fraud in the United States. Four US citizens were arrested as part of a group that was trying to trick banks and credit card companies to process illegal payments.
Allied Wallet was the company the suspects worked for when attempting to defraud banks in the United States. Ahmad Khawaja was arrested in Lithuania in 2020 and the US is trying to extradite him. Khwaja tried to build up a good rapport with Democratic and Republican politicians starting in 2015.
