Circulating Warning Against Unlicensed Financial Services Provider


The Malta Financial Services Authority has become aware that an unregistered financial service provider operating under the name Wire Prepay is claiming to be licensed to offer services including prepaid cards, credit and debit cards, payment processing and money transfer services.

This company is not registered, licensed or regulated in Malta by the MFSA and therefore is not allowed to operate and offer any type of financial service. It is important to know that no monetary transactions should ever be carried out with organisations which are not registered and regulated either by the MFSA or another recognised regulating body.

Another important thing that should be taken into account in order to avoid running unnecessary risks is knowing which financial services any financial services provider is licensed to offer by its regulator. This will ensure that one’s transactions are being carried out by accredited professionals in the field.