CurrencyFair ‘could be forced’ to cease payments for a year over alleged external fraud

Details of the alleged external fraud were disclosed in the company’s most recent set of accounts

Shamus Hodgson, leads the company which secured more than $10 million in venture debt a year ago.

CurrencyFair, the Irish fintech firm, could be forced to cease payment services for up to a year following an alleged external fraud at its Australian subsidiary.

The Central Bank of Ireland wrote to CurrencyFair in November 2023 warning that it is “minded to” order the company to suspend its payment services for up to 12 months due to the alleged incident.

The company is working to address the regulator’s concerns and prevent the Central Bank ...