It said it has records to corroborate these transactions. ![]() “That the 1st Respondent’s (Flutterwave) bank accounts received billions (millions in USD) in a suspected scheme of money laundering and the same deposited in different bank accounts in an attempt to conceal or disguise the nature, source, location, disposition or movement of the said funds,” said ARA.ĪRA also said that Flutterwave was suspected of card fraud as some “transactions were done using cards issued by the same bank, at the same point, on the same day, raising suspicion of card fraud.”īut Flutterwave told TechCrunch that it processes payments for businesses the world over, most of which are in large volumes. The agency has petitioned the court to have the money forfeited to the government. It added that there was no evidence of settlements to the alleged merchants. It said that Flutterwave’s bank accounts were used as conduits for money laundering under the guise of providing merchant services, and that the fintech had no evidence of retail transactions from customers paying for goods and services. The ARA alleges that the funds in Flutterwave’s accounts were received from specific foreign entities and transferred to specific accounts belonging to the six companies instead of as settlement to merchants. We remain proactive in our engagements with regulatory bodies to continue to stay compliant,” said Flutterwave in a statement shared with TechCrunch. Our Anti-money laundering practices and operations are regularly audited by one of the Big four firms. We are a financial technology company that maintains the highest regulatory standards in our operations. “Claims of financial improprieties involving the company in Kenya are entirely false, and we have the records to verify this. The agency also said that the fintech was operating in Kenya without a valid license from the country’s monetary regulator, the Central Bank of Kenya (CBK).įlutterwave says the allegations are false. In court filings seen by TechCrunch, the agency said it began investigations after suspicious activities and transactions in the seven companies were flagged on suspicion that they were proceeds of crime. This is after a total of $52.5 million in 62 accounts linked to Flutterwave and six other companies that are recipients of wire transfers from the fintech were blocked by the country’s pinnacle court, after the agency applied to have them frozen. ![]() 00:49:25 Greg-CSF: Noir.Flutterwave has come out to deny the fraud and money laundering claims leveled against it by Kenya’s Asset Recovery Agency, which investigates and recovers proceeds of crime.00:44:11 Sacha-Use Live Text to Capture Error Messages for Debugging Issues.00:40:41 Jon-Strategically using the Ravpower 65W USB-C Travel Charger.00:36:35 Mike-Creating a Bootable M1 Backup with Carbon Copy Cloner.00:35:16 Ferrers- 935-Manly Advice: use /OSX for all your man pages.00:27:39 Gray-Do I still need to use a UPS Battery Backup?.Your Questions Answered and Tips Shared!.With integrated Notebooks and extended language support. 00:26:24 SPONSOR: BBEdit, the power tool for text from Bare Bones Software now.Sign up for FREE at /MGG and download the app today. 00:25:12 SPONSOR: Zocdoc, the easiest way to find a great doctor and instantly book an appointment.Visit /mgg today for your free Style Gets Smarter design guide. 00:23:57 SPONSOR: Hunter Douglas – Custom Shades and more. ![]() 00:19:11 Pensacola Craig-PSA-Beware Differences in YouTube Premium pricing on App Store vs.00:16:05 Brian-QT- Find Apple Manuals online.00:07:12 Craig-QT- Mac Studio in Refurb Store.00:04:54 James-QT-935- Use Stacks to Manage a Synced Desktop.00:03:50 Petter-Using Mac as Power Bank for Charging.00:01:50 Petter-QT-Tab Groups in macOS Ventura can stay pinned!. ![]() Press play and enjoy learning five new things with your two favorite geeks! Chapters/Timestamps/Stuff mentioned: Did you ever want to pin a tab inside a Tab Group? How about using your Mac as a power bank? Want a refurb Mac Studio? Today’s your lucky day, and that’s just the start of the show! John and Dave share Quick Tips to get things rolling and then it’s on to answering your questions, Cool Stuff Found, and more.
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