The business, which managed online payment system Klik & Pay, has offices in Mauritius, Lausanne, Paris and Washington, as well as its Luxembourg base in the Pétrusse valley.
The Financial Sector Supervisory Commission (CSSF) requested the temporary suspension of the provision of payment services by CYBERservices Europe SA back in July 2019, due to non-compliance with the law on the protection of users' funds.
The CSSF noted that CYBERservices Europe SA had not protected all the funds received from the users of its services for the execution of transactions, and had not deposited, as required by law, the funds in a separate account with a credit institution.
Following these findings, the CSSF ordered CYBERservices Europe to immediately remedy this situation and comply with the law. Since CYBERservices Europe failed to rectify the situation, they were suspended as a result.
The Public Prosecutor's Office confirmed that the firm had been subjected to searches over the summer of 2020, as part of a judicial investigation into allegations of fraudulent bankruptcy and abuse of corporate assets by the company.
Outstanding creditors can submit their claim using a downloadable form at www.steinmetz-avocat.lu.
