Tag: Kristo Karmann

FinTech Giant Wise Accidentally Facilitates Withdrawal for Sanctioned Individual! CEO Goes On Parental Leave!

Compliance tamir - September 2, 2023

Amidst the complexities of global sanctions and the dynamics of financial technology, Wise, a UK-based fintech leader, finds itself entangled in an incident of inadvertent sanctions breach. An individual listed on the Russian sanctions roster was unexpectedly allowed to withdraw £250 ($316.63) from a Wise business account, as revealed by the Office of Financial Sanctions Implementation (OFSI), a regulatory arm of the UK government.

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