Neteller confirms funds seizures
Egaming review reports the following ...
Neteller has confirmed reports circulating earlier this week that US authorities have seized funds related to US transactions.
In a statement released to the London Stock Exchange this morning, the payment processor said that the United States Attorney’s Office (USAO) had obtained court-ordered seizure warrants for “seizing funds pertaining to the group’s transactions”.
The company believes the amount to add up to no more than US$55m. It said the funds were largely in the process of being transferred from the group to its US customers or vice versa.
The company added that banks in the US have begun declining to permit transactions involving the group through accounts maintained at one or more clearing houses in the US.
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