QPay Europe Limited, a merchant services provider which claims to be a fintech startup offering due diligence and underwriting services, has consented to a court order to give up £2M held in its name following proceedings brought by the FCA under the UK Proceeds of Crime Act. The money was initially frozen in urgent proceedings brought by the FCA in Oct and Dec 2020. The UK regulator claimed the money was the proceeds of illegal activity connected to the $150M Allied Wallet bank fraud case indicted in the US.