German banks halts $11.7 billion in PayPal payments on fraud concerns: Report

German banks blocked PayPal payments totalling more than 10 billion euros ($11.7 billion) over fraud concerns, the Sueddeutsche Zeitung newspaper reported on Wednesday, without specifying its sources.

The payments were halted on Monday after lenders flagged millions of suspicious direct debits from PayPal that appeared last week, the newspaper said.

Asked to comment on the report, a PayPal spokesperson said a temporary service interruption had affected “certain transactions from our banking partners and potentially their customers”, but that the issue had now been resolved.