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Release Date: 30th November 2023

To access the original FCA document, click here.


The Financial Conduct Authority (FCA) has fined Dollar East (International Travel & Money Transfer) Ltd, Hafiz Bros Travel & Money Transfer Limited, and LCC Trans-Sending Limited (trading as Small World) along with its parent company Small World Financial Services Group Limited for violating the Chapter I prohibition of the Competition Act 1998. This decision follows an investigation into the firms’ anti-competitive practices in the UK to Pakistan remittance market in Glasgow from 18 February 2017 to 31 May 2017.

Summary of FCA Actions:

These practices aimed to prevent competition and maintain higher prices, restricting consumer choice and competition in the market.

Key Takeaways for Other Firms:


The FCA’s fines highlight the serious consequences of engaging in anti-competitive practices. Firms must operate within the law, fostering healthy competition to benefit consumers. This case serves as a reminder of the importance of maintaining compliance with competition regulations.

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