Central Bank of Cyprus Imposes AML Administrative Fine on Payabl.Cy Ltd

tamir
Mon, 23 Feb 2026 11:33:49 +0000
Central Bank of Cyprus, ticker, Payabl, Payabl.cy, PowerCash21

On 3 October 2025, the Central Bank of Cyprus (CBC) published an official announcement under the Prevention and Suppression of Money Laundering and Terrorist Financing Law 188(I)/2007, as amended.

According to the announcement:

The CBC, in its capacity as supervisory authority under the AML Law, conducted an examination of compliance.

On 30 September 2025, the CBC decided to impose an administrative fine on Payabl.Cy Ltd (formerly Powercash21 Ltd; LEI: 2138003UJXVWKJIH9G72).

The amount of the fine is €350,000.

The decision relates to findings concerning compliance with provisions of the AML Law following an examination covering the year 2020.

The CBC states that the supervised entity was given the opportunity to be heard before the final decision was taken.

Judicial Review:

On 12 December 2025, Payabl. Cy Ltd registered Appeal No. 1405/2025 before the Administrative Court of Cyprus challenging the CBC decision.
(Source: Central Bank of Cyprus – Administrative Sanctions and Measures Register)

The full announcement is publicly available on the Central Bank of Cyprus website.

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