FCA Cancels Dania Money Transfer's Registration for Regulatory Breaches

The UK Financial Conduct Authority has cancelled Dania Money Transfer Ltd's registration as a Small Payment Institution. The regulator cited multiple failures to meet the conditions of the Payment Services Regulations 2017.

In a Final Notice dated 5 March 2026, the FCA stated the firm's anti-money laundering registration with HM Revenue & Customs was cancelled on 31 July 2024. This removal from the HMRC register meant the company could no longer legally provide payment services.

The authority noted the firm failed to report this cancellation or a subsequent rejected application, breaching its obligation to disclose material changes. The FCA also raised issues with the company's regulatory reporting.

Dania Money Transfer submitted a 2023 regulatory return claiming transaction activity, contradicting its earlier statement of being non-trading. The firm did not provide evidence when requested. It also failed to submit its required 2024 return despite repeated warnings.

The FCA stated the company has not provided services since at least July 2024. It also failed to begin operations within 12 months of its initial registration in March 2018.