10:11 17.06.2013

WebMoney says Ukrainian arm resumes transactions

2 min read

Global settlement system WebMoney told Interfax-Ukraine on Friday evening that it had had begun to unblock transactions that were frozen because of criminal investigations in the company's Ukrainian operation this week.

On its Facebook page, WebMoney promised that all the stalled transactions would be completed successfully.

Meanwhile, users have been reporting successful transactions. "I've just been able to transfer some money to the account of my Internet provider. Yesterday it was showing 'error' all the time," one of the users said,

Other users said transfers that were started between June 10 and June 14 and were stuck had been unblocked, and that, for example, there had been successful payment of utility bills.

On Tuesday, tax inspectors searched WebMoney's office in Kyiv. There were allegations in the media that some of the company's top managers had had their homes searched as well but there has been no official confirmation of this.

On Wednesday, Revenue Ministry said it had blocked UAH 60 million on accounts that were unconnected to WebMoney, but the measure impeded WebMoney's transactions.

Afterward WebMoney claimed it had resumed full-scale operation and urged its clientele not to panic, though complaints about its performance kept being posted in Internet forums.

On Friday, Ukraine's central bank said WebMoney was not licensed to operate in Ukraine. The Revenue Ministry, for its part, said it suspected WebMoney of fraud and money laundering.