ABC Projektai’s Banking Licence Triumph & UK Payment Issues
ABC Projektai, formerly Bruc Bond UAB, successfully regained its banking licence following a CJEU ruling overturning the Bank of Lithuania’s revocation due to the alleged mishandling of customer funds. The Supreme Administrative Court of Lithuania validated ABC Projektai’s compliance efforts, allowing them to operate under a full banking licence from July 1, 2024. Throughout the legal process, ABC Projektai received support from EU Member States and the European Commission. In contrast, Barclays, HSBC, Nationwide, and Virgin Money faced payment delays affecting thousands due to a third-party issue with the Faster Payments system, which was resolved later in the day.