Tap Global Group Settles Regulatory Breach with GFSC

Quetzal Capital PLC ( (GB:TAP) ) just unveiled an update.

Tap Global Group plc has entered into a Regulatory Settlement Agreement with the Gibraltar Financial Services Commission (GFSC) following a proactive disclosure of discrepancies in its Anti-Money Laundering policies. The company identified inaccuracies in suspicious activity reports, leading to a breach of internal reporting procedures under the Proceeds of Crime Act 2015. As a result, Tap Global has agreed to pay a £150,000 penalty, reduced from £214,285 due to early settlement. The firm has shown cooperation and taken remedial steps, including appointing a new Money Laundering Reporting Officer.

More about Quetzal Capital PLC

Tap Global Group plc is a digital finance hub that integrates traditional finance with blockchain technology, offering fiat payments and cryptocurrency settlement services. It serves over 390,000 customers, allowing them to trade and store cryptocurrencies via the Tap app. The company operates in Europe, the US, and Bulgaria, and was the first cryptocurrency FinTech company approved by Mastercard in Europe.

Average Trading Volume: 2,134,667

Current Market Cap: £8.42M

Learn more about TAP stock on TipRanks’ Stock Analysis page.