VILNIUS, Lithuania, July 17, 2026 (EZ Newswire) -- Following recent public statements by the European Gaming and Betting Association (EGBA) and subsequent media coverage, WALLETTO, a licensed electronic money institution, is issuing this statement to clarify its position.
No Formal Complaint Received
WALLETTO confirms that it has not received a formal complaint from the EGBA and has not been contacted by the Bank of Lithuania regarding the specific statements reported in the media. As a result, the company is not currently in a position to assess the substance or source of the claims.
WALLETTO believes that concerns of this nature should be addressed through established regulatory and legal processes, with all parties given the opportunity to review and respond to verified information. The company emphasizes that the filing of a complaint does not, in itself, establish that a legal violation has occurred and expects any relevant circumstances to be assessed objectively by competent authorities.
Recent Regulatory Review Addressed Separate Matters
WALLETTO recently completed a rigorous review by the Bank of Lithuania. According to the company, the fine issued following that review concerned separate technical and procedural matters, not the claims now appearing in media coverage.
WALLETTO states that the recently concluded review did not identify illegal gambling activity or systemic compliance failures.
Commitment to Financial Integrity and Security
WALLETTO operates in accordance with applicable Lithuanian and European Union law and maintains an open, constructive dialogue with relevant regulatory authorities. The company remains committed to high standards of financial integrity, security and compliance.
Its multi-layered internal control framework includes know-your-customer (KYC) procedures, enhanced due diligence where required, ongoing transaction monitoring, periodic customer reviews, sanctions screening and adverse-media screening. WALLETTO continually reviews and strengthens its risk-management processes.
WALLETTO does not support or facilitate illegal gambling activity. If it receives verified information indicating potential misuse of its services, the company will investigate promptly and take appropriate action where violations are confirmed.
As a licensed financial institution, WALLETTO complies with the laws and regulations of the Republic of Lithuania and the European Union, including requirements designed to prevent money laundering and terrorist financing.
WALLETTO remains committed to its customers and regulatory partners and will continue to prioritize security, compliance and responsible financial services.
About WALLETTO
WALLETTO is a European-licensed electronic money institution (EMI) and all-in-one fintech platform headquartered in Lithuania. As a principal issuer and acquirer with direct Visa and Mastercard partnerships, Walletto provides secure, scalable solutions for card issuance, acquiring, and electronic payments including SEPA and SWIFT services. Its integrated infrastructure enables businesses to launch, grow, and expand globally with speed and compliance confidence. For more information, visit walletto.eu.
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SOURCE: WALLETTO
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