CB renews the license of OSON payment organization

The Central Bank returned the right to provide services to the OSON payment system, the regulator’s website reports.

On November 10, the Banking Supervision Committee decided to renew the document issued by the service management company Brio Group. The license was suspended on October 17, no reason was given.

The topic of OSON’s problems with the regulator became public in early August, when the service announced the suspension of work with cards from both payment systems – Humo and Uzcard. The company’s director general, Farhod Makhmudov, said that the service was not subject to inspection due to fraud.
 
At the end of August, it became known that the Central Bank fined Brio Group for violating anti-money laundering laws. At the same time, Makhmudov spoke about the imminent ban on fintech companies working with cross-border payments from September 5.

On the evening of September 4, OSON announced the suspension of international payments. The company promised to restore their work “in the near future”, and later agreed to pay a fine to the Central Bank and stop independently managing money in foreign accounts.

The press services of a number of banks published a statement that explained the CB decision by protecting the local fintech sector from external risks. It was noted that payment services lack licenses from foreign countries, as well as compliance control.

A little later, the regulator itself issued a commentary in which it accused OSON of violating the requirements for collecting information about transactions. It was also noted that the company did not have permission to open foreign accounts.