<p><span>QPay Europe Limited, which claims to be a fintech start up offering due diligence and underwriting services, has consented to a court order to give up £2,000,000 held in its name following proceedings brought by the Financial Conduct Authority (FCA) under the Proceeds of Crime Act in the Westminster Magistrates’ Court.</span></p>
In the early hours of 15 March 2022, the Economic Crime (Transparency and Enforcement) Act (the “Act”) came into force. The rapid passage of the Act through the UK Parliament, after.