EML payments plunges as Irish unit faces remediation charges

EML Payments

25/07/2022 01:46

** Shares of EML Payments  EML.AX  fall as much as 14.6% to
A$1.020, on track for their worst session since July 11, if
losses hold 
    ** Says its Irish unit, PFS Card Services (Ireland) Ltd, has
made adjustments to its remediation programme after the Central
Bank of Ireland identified some shortcomings following a review
of its risk assessment framework  urn:newsml:reuters.com:*:nASX3KfXcs
    ** Says unit will adopt a revised approach to these
components and completion of this work may result in additional
controls being embedded into the internal control framework
    ** Stock hits lowest since July 18 
    ** Says it is anticipated that the adjustments to the
remediation programme will result in assurance being finalised
in 2023.
    ** Stock down 63% this year, as of last close 

 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))