The reliance on the sector had previously been even more strong: a Skrill executive told analysts in 2015 that, in previous years «95% of the revenue was coming from gambling operators». Gambling-related transactions accounted for 45% of Paysafe’s turnover in 2017, the last year detailed figures were disclosed. Their core market is online gambling, an industry traditionally shunned by banks due to the higher risk it carries. They allow clients to deposit money on an online account, which can be used to make transfers or pay selected merchants with only an email and a password. Skrill and Neteller are two of the leading digital payments providers in the so-called e-wallet industry. Paysafe told IrpiMedia that it takes its obligations extremely seriously and it has a comprehensive compliance framework in place to prevent the abusive use of its services. As financial institutions regulated in the United Kingdom, they are required to follow robust anti-money laundering rules and submit suspicious transactions reports to authorities. It is possible that Skril, Neteller, and their controlling party Paysafe, were not aware of the organised crime ties with the gambling operators.
