The Central Bank of Cyprus published an enforcement notice imposing an administrative fine of EUR 350,000 on Payabl. Cy Ltd (formerly Powercash21 Ltd) for failure to comply with specific provisions of Cyprus’s Anti-Money Laundering and Combating Money Laundering Law of 2007 to 2025. The sanction follows findings from an audit carried out in 2020 and was decided on 30 September 2025 under the supervisory measures framework in Article 59 of the law, which applies in cases of non-compliance with Part VIII of the law or relevant directives. The notice also describes the administrative-law process applied, including inviting the affected party to provide explanations before a final decision. Payabl. Cy Ltd is identified with LEI 2138003UJXVWKJIH9G72.
Central Bank of Cyprus 2025-10-03
Central Bank of Cyprus imposes EUR 350,000 anti-money laundering fine on Payabl. Cy Ltd
The Central Bank of Cyprus imposed a EUR 350,000 fine on Payabl. Cy Ltd for non-compliance with the Anti-Money Laundering and Combating Money Laundering Law of 2007 to 2025. The decision, based on a 2020 audit, was made under Article 59 of the law's supervisory measures framework. The enforcement notice outlines the administrative-law process, including an opportunity for the company to provide explanations before the final decision.