1. Frisk Online Press Room | press@frisk-online.co.uk
FOR IMMEDIATE RELEASE
Contact: Seona Devaney
Company: Frisk Online Limited
Tel: 0800 7566377
Email: info@frisk-online.co.uk
Website: www.frisk-online.co.uk
The fraud and risk regulatory consulting and training experts
Subject: Frisk Online work with PaySwyft to secure FSA approval for a Small
Payment Institution licence
20th January 2011. Farnham, Surrey.
Frisk Online Limited is a private regulatory consultancy and training provider specialising in the
area of fraud and risk, working in the remote gaming, epayments and e-commerce sectors. Frisk
Online was founded in March 2008 by Seona Devaney (Director).
In 2010 Frisk Online supported Flycke UK Ltd (trading as PaySwft) by providing consultancy and
training in the Payment Service Regulations 2009, with the successful outcome of securing
PaySwyft a ‘Small Payment Institution’ licence with the FSA.
Flycke UK Ltd (trading as PaySwyft) is an Electronic Bill Presentment and Bill Payment service.
As from November 2010, PaySwyft is now fully regulated by the Financial Services Authority
(FSA) as a Small Payment Institution. This means that Payswyft is expected to adhere to a
number of standards that are stipulated by the FSA. This includes being governed by principles
and requirements for transparency and disclosure; adhering to the FSA’s guidelines for
operations and security such as integrating identity verification, KYC (Know Your Customer)
and anti-fraud systems and controls.
Asked to comment, CFO Faruq Ismail said “This is a key step in PaySwyft’s journey and gives us
further credibility with our merchants and customers. In order to deliver on our obligations,
PaySwyft uses industry-leading on-line security technology. Our operational design gives both
merchants and consumers the highest level of safety and privacy-a fact that the FSA now
officially recognises.”
About Frisk Online:
Please visit our site for more information on our consultancy and training services: www.frisk-
online.co.uk
For further information about Frisk Online please contact Seona Devaney.
