The executive committee of the National Bank of Moldova (BNM) has decided to suspend the license of “Artosis” Ltd. - an electronic payment service provider – for a term of six months, starting with August 9 (17.00), IPN reports.
BNM says in a press release that the decision has been taken as a result of an on-site investigation of the activity undertaken by the e-currency issuer, taking into account the gravity of the offenses and their repeated perpetration. The investigation identified breaches of the Law on the prevention and combating of money laundering and funding of terrorism, as well as of previous guidelines provided by BNM.
The provider failed to apply increased precaution measures concerning certain clients. Namely, they hadn’t obtained information on the sources of their clients’ funds, as well as the goal and nature of their businesses, and failed to continuously monitor their transactions and business affairs. Furthermore, they have conducted payment operations through agents that aren’t recorded in BNM’s social registry of e-currency issuers, and have provided false information.