BLS International Slammed by Visa Fraud Allegations

BLS International's shares plummeted by as much as 12.7% on Monday, August 24, following reports of alleged visa fraud involving the Indian company.

The Spanish media reported that BLS International has been drawn into a Spanish National Court investigation linked to an alleged visa fraud network at Spain's consulate in Algiers.

The court has broadened its inquiry to scrutinize firms responsible for managing visa appointments and document processing, including BLS, which is contracted by Spain's Foreign Ministry.

BLS International responded to the allegations, stating that it 'categorically' rejects any involvement in the alleged irregularities and emphasized that its role is strictly administrative, carried out according to the requirements of competent authorities.