Irish payments company identifies fraud that could cost parent €5.5m

. The deal included an upfront payment of €70 million, with an earn-out component of up to €40 million.

It said it was “taking steps to investigate and understand the circumstances” surrounding the fraud and has “commenced steps to recover any losses”. “EML has transitioned over the years from primarily a gift card company to a company with a diverse revenue base across multiple prepaid products,” said Tom Cregan, EML’s managing director and group chief executive.

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Company Watch: Kenmare profits riding high on buoyant mineral pricesThe Irish mining company said low production volumes in the first half of the year had been offset by record prices for titanium minerals, LorcanAllen reports.
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