On 21 November 2025, we imposed restrictions on Bazar Money Transfer Limited (BMTL), preventing it from providing regulated payment services. BMTL is registered with the FCA to provide money remittance services to retail and corporate customers.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 cryptoasset business and must not provide these services to customers.More informationYou can read the Second Supervisory Notice which outlines our concerns and the basis for imposing the restrictions.Find out more about the restrictions on the Financial Services Register.The FCA is the anti-money laundering and counter-terrorist financing supervisor of UK cryptoasset businesses under the Money Laundering Regulations (MLRs).Any cryptoasset exchange provider or custodian wallet provider which operates its business in the UK must be registered with the FCA – Cryptoassets: Who needs to register.
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What is FCA? We protect people by helping them understand some of the most common risks they might come across when using financial services.
We publish warnings about firms that are doing business without our authorisation, and we encourage consumers to report scams, potential harm or bad conduct to us.
Our ScamSmart campaign targets individuals who are most at risk of investment fraud and pension scams. Our InvestSmart campaign also warns newer investors about the risks of investing online.
We want to help consumers protect themselves, so we work with consumer organisations to raise awareness of what we do. These organisations also help inform our approach to regulation.