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What will be the outcome of Payeer's appeal against the $10M fine by January 15, 2025?
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Resolution / Starting Odds
Fine upheld • 25%
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Fine dismissed • 25%
Other • 25%
Court rulings or official announcements from Lithuanian authorities
Story
Lithuania Imposes Record $10M Fine on Payeer for Sanctions Violations
Jul 15, 2024, 08:03 AM
Lithuania has imposed a €9.3 million ($10.07 million) fine on crypto payment service provider Payeer for sanctions violations and AML breaches. The Financial Crime Investigation Service (FNTT) of Latvia revealed that Payeer allegedly allowed transfers to sanctioned banks, with over 213,000 customers transacting in Russian rubles, pulling in more than €164 million. Despite warnings from FNTT, Payeer continued these transactions, leading to the record $10 million fine.
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