Struggling financial services group EML Payments appears to be a long way from fixing its anti-money laundering headaches after revealing on Monday that all directors of its Irish subsidiary are set to quit. Without any continuing directors to wear corporate responsibility for AML compliance, EML’s effort to fix its deficient systems looks to be in a state of confusion. The operations of the subsidiary – known as PFS Card Services Ireland Limited (PCSIL) – have been hobbled by special restrictions imposed by the Central Bank of Ireland since 2021. The subsidiary is currently subject to a zero growth cap until at least the end of March next year. This restriction prevents the Irish business from acquiring new customers or growing revenue and is not likely to be lifted before the regulator deems its systems are compliant with AML laws. In a filing to the ASX, EML did not give any reasons for the decision of all board members to abandon the Irish arm.??“EML Payments Limited advises that after close of trading on Monday 11 September 2023, the directors of its Irish subsidiary PFS Card Services Ireland Limited (PCSIL) indicated their intention to resign their directorships,” EML told the ASX. “The directors will remain on the subsidiary Board for a transition period.  “EML’s ongoing strategic review is particularly focused on loss making entities of which PCSIL is one.  “As communicated in our FY23 full year results presentation, EML will provide shareholders with an update on the strategic review on or before the November 2023 AGM.” PCSIL’s five directors are all Dublin-based and include its chief executive, Fiona Flannery. EML did not provide any guidance in its ASX statement on whether Flannery would continue to lead the Irish subsidiary’s management team. EML’s interim group chief executive Kevin Murphy who is also based in Dublin is not a director of the subsidiary according to the Irish companies register. At EML’s full year profit announcement last month, Murphy identified the Irish arm as one of the group’s loss-making businesses and indicated that a strategic review led by advisers from Barrenjoey was assessing prospects for selling the business. The carrying value of PCSIL was marked down to zero on the group’s latest balance sheet after an impairment charge of $258.9 million on the Irish operations was booked on 30 June. News of fresh turmoil in the Irish business appeared to unsettle EML investors who wiped 5 cents or 4.2 per cent off the share price which closed at $1.12.