Estonian FSA revokes license of payments provider GFC, citing AML

TALLINN, May 28 (Reuters) - Estonia's financial supervisory authority said on Tuesday it had decided to revoke the license of online payments provider GFC Good Company AS, citing serious shortcomings in the company's anti money laundering procedures.

"In the work of the payments provider there have been serious shortcomings related to anti money laundering actions and in know-your-client proceedures," the FSA said in a statement.

GFC was not immediately available to comment.

In 2018 GFC transferred payments worth 363.9 million euros ($407 million).

($1 = 0.8941 euros)

(Reporting by Tarmo Virki, editing by Johannes Hellstrom)

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