EML shares plunge after Central Bank finds shortcomings at Irish subsidiary

PFS has been under investigation for more than a year over concerns about anti-money laundering compliance

EML Payments chief executive Emma Shand

Shares in Australian fintech EML Payments have plunged after the Central Bank of Ireland said it has identified shortcomings in the approach taken to risk assessment at one of its Irish subsidiaries.

The company has been involved in a remediation programme for PFS Cards Services Ireland Limited since July 2021 at the direction of the financial regulator. This was initiated after the Central Bank warned EML in May 2021 it was considering taking action against ...