Gibraltar Issues Warning About SegPay

Oct 26, 2011 8:15 PM PST

GILBRALTAR – The self-governing British colony of Gilbraltar on Wednesday issued a warning over business conducted by adult processor SegPay because it says that the company isn't regulated nor licensed under the government's "financial services payment services" laws.

"The [Financial Services Commission] therefore urges the public to exercise appropriate caution in respect of these entities, whilst it continues its investigations," regulators said.

SegPay CEO Cathy Beardsley in a statement said the company seeks to resolve the issue.

The warning by the government is noted here.


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