To prevent financial crime, Skrill must follow legal requirements to check the identity of customers and monitor transactions to detect money laundering and fraud. Pass FCA vetting The Financial Conduct Authority performs a test on each member of Skrill Limited senior management to test for honesty, integrity, reputation, competence, financial soundness and capability.In short, this means your money is protected even if Skrill goes bankrupt. In order to protect customers’ money, Skrill must follow EU Electronic Money Directive protocols to protect customers in the event that the company encounters an insolvency event. Skrill is required to maintain a minimum of €350,000 of its own funds at all times. Maintain set amounts of capital and liquidity.
