The Astana Financial Services Authority announced a USD 21,854 financial penalty on Verum Payments Limited after an investigation found that the firm conducted regulated activity and made financial promotions before completing the required post authorisation conditions. The matter was resolved by settlement, with the company accepting the findings, the penalty, and the need to remediate the breaches. The published penalty includes a 30% settlement discount applied under the AFSA Enforcement Policy after Verum Payments accepted the outcome and took steps to address the contraventions. The firm has developed a remediation action plan, and the AFSA said it will continue to monitor implementation to ensure ongoing compliance with the AIFC regulatory framework. No Decision Notice will be published because the case was investigated, settled, and concluded under the previous framework, which did not require publication of settlement outcomes. The AFSA said the press release is the public disclosure for this case, while future enforcement outcomes will be published through Decision Notices under the revised Enforcement Policy.
Astana Financial Services Authority2026-06-01
Astana Financial Services Authority fines Verum Payments USD 21,854 for operating and promoting services before meeting post authorisation conditions
The Astana Financial Services Authority fined Verum Payments Limited USD 21,854 for conducting regulated activity and issuing financial promotions before meeting post-authorisation conditions, resolving the case by settlement with a 30% discount. Verum Payments has agreed to remediate the breaches under an action plan, which the authority will monitor, and the AFSA stated that this press release serves as public disclosure under the previous enforcement framework, with future outcomes to be published via Decision Notices.