High-risk payment processor

Wallter is an e-money institution based in Lithuania focusing on checkout and payment solutions for businesses, foreign exchange, and international payments.

The EMI was founded in 2018 by Tzachi Itzhak Armoni and Isaac T. Armoni (Linkedin), with offices in Vilnius, Bucharest, and Tel Aviv.

The company Wallter offers IBAN accounts in multiple currencies, allowing users to send and receive funds and payments anytime, anywhere.

Key features include:

  • SEPA transfers
  • Swift payments
  • Funds in multiple currencies
  • SEPA instant money transfer
  • Mass payments
  • Access for multiple users

In addition, Wallter offers its clients a prepaid card that allows them to control all their business expenses.

Wallter is an authorized e-money institution regulated by the Bank of Lithuania and subject to the regulatory framework of the European Central Bank.

In December 2021, the Bank of Lithuania (BoL) fined Wallter €280,000 for violating Lithuania’s Law on Prevention of Money Laundering and Terrorist Financing. Furthermore, the regulator has imposed additional obligations on Wallter.

The Bank of Lithuania also found that Wallter‘s customer risk assessment procedures had not adequately identified its customers’ money laundering and terrorist financing risks and had not adequately classified customers into risk groups.

Due to the company’s compliance technical problems and the associated consequences, we place the company on our “Red Compliance” list.

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