LCC Trans-Sending Limited enters special administration

Payment services firm LCC entered special administration on 18 June 2024 and has now ceased trading.

Christine Mary Laverty, Russell Simpson and Jarred Erceg of Grant Thornton UK LLP, have been appointed as joint special administrators.

LCC is authorised and regulated by the FCA to provide payment services, specifically money remittance services, under the Payment Services Regulations 2017 (PSRs). 

LCC traded as:

Small World Money Transfer
Small World Financial Services 
Express Funds
Global Link
Bayba (UK)
It is also supervised by His Majesty’s Revenue and Customs (HMRC) for money laundering purposes. 

On 10 June 2024, LCC closed to new business and stopped accepting funds from customers.

On being made aware of LCC’s situation, the FCA took steps to protect consumers. On 13 June 2024, LCC signed an undertaking that it will not: 

on-board new customers 
on-board or register new agents 
accept new funds from existing customers

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