Australia's EML Payments slumps most in nearly 7 years on fraud activity

EML Payments

24/08/2022 06:40

** Shares of payments solutions provider EML Payments
 EML.AX  fall as much as 18.8% to A$0.808, their lowest since
Nov. 6, 2015
    ** EML says its Sentenial business has identified fraudulent
activity that occurred primarily in Aug  urn:newsml:reuters.com:*:nASXtcWY0
    ** Fraud relates to a set of fraudulent merchants within
direct debit processing business, says co 
    ** EML to investigate the fraud; commenced steps to recover
any losses
    ** Maximum loss amount would not exceed A$7.9 mln ($5.46
mln), says co
    ** Stock posts its biggest intraday pct fall since July 25
    ** More than 23.6 mln shares change hands, compared with the
30-day average volume of about 5.4 mln shares
    ** Stock down ~69.2% this year, as of last close


($1 = 1.4468 Australian dollars)

 (Reporting by Anan Ashraf in Bengaluru)
 ((Anan.Ashraf@thomsonreuters.com;))