Forex Transactions Raised AML Concerns, Co. Says

Law360, London (November 11, 2019, 1:17 PM GMT) -- The owner of a company that helps process foreign exchange transactions has hit back against a lawsuit by a trading broker over a suspended account, telling a London judge that the funds were frozen before an investigation into possible compliance violations. 

Lawyers for St James House PLC told the High Court on Nov. 5 that FXB Trading UK Ltd.'s account was suspended earlier this year over concerns that the broker may have broken rules against money laundering. 

The company, which runs a foreign exchange service through its subsidiary Market Access Ops Ltd., said in a defense filed with the court that...

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