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FCA shutters Euro Exchange Securities UK over financial crime risk

Stephen DAlton 14 June 2026

The enforced closure last week of Euro Exchange Securities UK ‌Ltd, the London arm of an electronic money and payments firm with U.S. and Spanish businesses, by the UK's Financial Conduct Authority (FCA) serves as yet another reminder of how serious regulators are about protecting consumers and the integrity of financial markets.

Significant financial crime risk

On 4 June 2026, the FCA required EES to cease carrying out any regulated electronic money or payment services and following the FCA’s successful application to the High Court in London special administrators were appointed by the Court to manage customer claims against the firm and return funds to customers where possible.

According to an FCA press release this first of its kind case came about after 'lengthy engagement with the firm and because of serious concern with the way EES operated its business, which indicated significant financial crime risk. The FCA acted with partners across government, including the Security Industry Authority, as part of joint strategies to disrupt financial crime.'

The risk of payment firms being used by criminals to launder cash to fund other offences is significant, which is why they must meet expected standards. Fighting financial crime is at the heart of our strategy – and that means using our powers to their fullest extent to protect consumers and the integrity of the financial system.

Matthew Long, director, payments and digital assets, FCA

Source: fca.org.uk/news/press-releases

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Stephen D'Alton

Stephen is an independent business consultant whose work history includes spells with Standard Bank of South Africa, The Royal Bank of Scotland, Serious Fraud Office (London), and Alcatel's Fraud Management Group. He has co-authored two published books, Wise's Irish Whiskey (2023) and Constantia's Forgotten Farms (2024).