FCA imposes restrictions on Sendsii Ltd, a money transfer business, after it lost its HMRC registration, halting operations and ordering the return of client funds over compliance and transparency concerns

The firm was prohibited from carrying out any payment services, including onboarding customers or handling funds, required to return all client money, and ordered to provide detailed information on its operations, agents, and accounts, amid concerns over non-reporting, lack of transparency, and risks to consumers…