Worldline Compliance Review Flags ‘Uneven’ Anti-Financial Crime Controls

Worldline SA said an independent review found “uneven” implementation of anti-financial-crime controls across the company, even as the French payments processor reported a drop in third-quarter revenue and outlined plans to streamline its business.

In a statement Tuesday, Worldline said Oliver Wyman’s assessment concluded the firm has made “considerable progress” on improving its risk and compliance controls, but faces “implementation challenges,” which the company attributed to rapid growth through acquisitions.

The review followed June investigative reports alleging Worldline ignored warnings and continued serving prohibited or high-risk customers, enabling fraudulent transactions, Bloomberg reported. Brussels prosecutors subsequently opened a probe into Worldline’s Belgian unit, the news agency said.

Worldline said it is “fully cooperating with the regulators and schemes,” answering questions and audits.