"Although it would be inappropriate for us to comment directly on Liberty Reserve as investigations are continuing, the public should be aware that UK Financial Conduct Authority (FCA) regulated and authorised escrow companies, such as Transpact, are completely safe to use and have several key differences to Liberty Reserve. We have stringent measures in place to prevent any illegal activity occurring and to safeguard customers and clients, and these are built into the core of our service. These measures are backed, regulated and audited by British law and relevant regulatory bodies.
 

"The most important point of difference is that Transpact does not handle anonymous transactions, but insists upon payment only from and to a UK (or equivalent) bank account held in the name of that client. Further verifiable identification documents must be provided on demand, and so we always know exactly who is paying money, and who money is being paid to, and for exactly what purpose. As a money transfer business, Transpact is actually less of a risk for money laundering and terrorist financing than a standard business, such as a restaurant. 
 

"Escrow is the only known way that both parties in a transaction can be simultaneously fully protected, giving the buyer the guarantee that they will obtain everything they were promised for certain, or their money back, and the seller the guarantee of 100% payment, with no possibility of bad debt or a chargeback. The online escrow market has recently risen into the billions. Like any area where large sums of money and attractive investment items are concerned, it has not been without attempts at fraud, money laundering and other criminal activity.

"Companies such as Transpact that are authorised and regulated by the FCA under the Payment Services Regulations 2009, are safe to use, as money is segregated and ring-fenced by law for the clients and cannot be claimed for any purpose other than the intended transaction, regardless of outside events. Additionally, for data protection, confidentiality and security, all customer data is only held at specialised, high security encrypted sites."
 

To obtain on-record quotes from Transpact spokespeople or arrange interviews or appearances, please contact: Esther Porta, 3CommPR Email: esther@3commpr.co.uk Tel: +44(0) 207 351 7374 OR SKYPE 0203 287 4036 Mobile: +44(0)7870 439158