PayPal in £5.1m payout for allowing illegal payments

joe516

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PayPal has agreed to pay $7.7m (£5.1m) to the US government following claims it allowed payments that violated sanctions against Iran, Cuba and Sudan.

The US Treasury Department said the payment firm had failed to adequately screen and prevent transactions.

They included a $7,000 transaction from someone listed by the US government as being involved in the proliferation of weapons of mass destruction.

PayPal said it had improved the real-time scanning of payments.

In a statement, it said it had "voluntarily" reported to the Treasury's Office of Foreign Assets Control (Ofac) certain payments it had processed between 2009 and 2013.

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