EML Payments shares plunge after Central Bank raises concerns about Irish subsidiary

Shares in the Australian fintech fell by 45 per cent after the Central Bank of Ireland raised anti-money laundering and counter-terrorism concerns relating to Prepaid Financial Services, its Irish subsidiary

The Central Bank of Ireland has raised anti-money laundering and counter-terrorism concerns about EML Payments’ Irish subsidiary, Prepaid Financial Services. Picture: Fergal Phillips

Shares in EML Payments, an Australian fintech company, plunged more than 45 per cent in trade on Wednesday after it announced the Central Bank of Ireland has raised anti-money laundering and counter-terrorism concerns relating to its Irish subsidiary, Prepaid Financial Services.

In a stock market announcement, EML Payments said the Central Bank of Ireland had written to it on Friday, May 14, raising “significant regulatory concerns” about Prepaid Financial Services, specifically relating to it’s risk, ...