The UK Financial Conduct Authority (FCA) has imposed restrictions on Bazar Money Transfer Limited (BMTL), preventing the firm from carrying out regulated payment services after it failed to meet registration requirements.
In an official notice, the regulator said the restrictions were first applied on 21 November 2025, effectively stopping the company from providing money remittance services to retail and corporate customers.
BMTL had been registered with the FCA as a small payment institution. However, the regulator found that the firm was no longer meeting the conditions for registration, including its inability to demonstrate adequate anti-money laundering controls. The FCA also noted that the company had been offering crypto asset services without the necessary authorisation.
“As BMTL was no longer meeting the conditions for registration as a small payment institution, we acted to impose restrictions to protect consumers, preventing BMTL from carrying out any regulated payment services.
“Following representations made by BMTL, on 6 March 2026, we issued a Second Supervisory Notice, keeping the restrictions in place.
“Anyone who needs to send or receive money should use an alternative authorised or registered payment services firm.
“Any BMTL customers who haven’t received expected funds should contact our Supervision Hub.
“BMTL is also not registered to carry on crypto asset business and must not provide these services to customers”, the FCA alerts consumers under its watch.
The regulator’s action underscores its continued focus on consumer protection and compliance within the UK payments and crypto asset sectors, warning customers to seek authorised providers for financial transactions.
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