BLS International Embroiled in Spain's Visa Fraud Probe, Shares Plummet

BLS International, a visa and consular services provider based in India, has come under scrutiny due to an investigation into alleged visa fraud at the Spanish Consulate in Algiers. The company's shares declined by 9% following this development.

BLS International essentially works as an outsourced service provider for governments and diplomatic missions. They handle front-end processes such as collecting visa applications, scheduling appointments, and receiving supporting documents. However, the final decision on granting a visa rests with the concerned government or embassy.

The company has over 46 client governments worldwide and 50,000 offices exclusively working for governments and diplomatic missions. BLS International's website also features former Australian Prime Minister Scott Morrison as its global strategic advisor.

Spain's National Court is investigating a network that allegedly helped applicants obtain Schengen visas despite failing to meet eligibility requirements. The investigation involves administrative service providers, including those handling appointments and documentation. BLS was awarded a €175 million contract by Spain's Foreign Ministry in 2016 for visa appointment and document processing services.