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Last week, several fintechs announced the shutdown of virtual USD Cards for their users. Flutterwave, PayDay, Busha, and Eversend, all announced that their virtual dollar cards and wallets would be terminated indefinitely. Read more in #TCDaily.
A fintech company in the United States has pleaded guilty to laundering $160 million to Nigeria. US Department of Justice (DoJ) in a statement said Ping Express “transferred millions of dollars from the U.S. to Africa has admitted that it failed to adequately guard against money laundering.” U.S. Attorney for the Northern District of Texas […]
Fintech company being run by the Nigerians acknowledged it failed to maintain an effective anti-money laundering...
Two Nigerian executives of a Texas-based fintech, Ping Express, have been convicted of money laundering in the US in a matter involving US$167 million fraudulent transfers. Ping Express CEO Anslem Oshionebo and COO Opeyemi Ode, both recently received 27-month prison sentences, and the company’s business manager, Aleoghena Okhumale, received a 42-month…
The Founders of Texas-based fintech firm Ping Express US LLC, Anslem Oshionebo and Opeyemi Odeyale, have pleaded guilty for failing to combat money