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Payment processing firm denies money laundering claim

Wed, 28 Sep 2016


A company with ties to the Isle of Man insists it has done nothing wrong after being named as a transnational criminal organisation by the US Treasury.

PacNet - which is a payments processing firm - is implicated in a number of mail fraud schemes and money laundering.

A Manx farming business is part of the PacNet group, while two individuals with Manx addresses were named in the report.

The company has issued a statement online insisting it "absolutely and categorically reject the allegations".

 

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