The National Money Transmitters Association
A Rich Resource for Intelligence on the Money Transfer Industry

Today's Daily News Clippings!

Friday - May 26, 2017 - Full Edition

How can the remittance industry survive Brexit?
[Opinion - UK] - May 26, 2017 - Information-Age.Com - Nick Ismail - Despite it being close to a year since the result of the referendum was announced, mention "Brexit," and you are still likely to spark a debate because of the long-lasting ... Read More ...

Luetkemeyer Reintroduces Legislation to End Operation Choke Point
May 25, 2017 - Luetkemeyer.House.Gov - Today, U.S. Rep. Blaine Luetkemeyer (MO-03) filed legislation to restore the balance between financial institutions and regulators and protect private industry from the organized ... Read More ...

Bank Woes Spread
[Opinion - Barbados] - May 25, 2017 - Caribbean Life News.Com - Bert Wilkinson - In the past year or so, several of the larger commercial banks in the United States such as JP Morgan Chase and the Bank of America cut ties with ... Read More ...

De-Risking Discouraged Amid UK Money Laundering Shake-Up
[Opinion - UK, Registration Required] - May 25, 2017 - Payments Compliance.Com - Termination of corresponding banking relationships will not be enough to satisfy UK regulators once current anti-money laundering (AML) ... Read More ...

Also See:
Directive (EU) 2015/849 of The European Parliament and of The Council
May 20, 2015 - Eur-Lex.Europa.Eu - Official Journal Of The European Union

Prevention of ML/CTF 2017 Consultation Version Guidance for The UK Financial Sector
[Part II: Sectoral Guidance] - May 2017 - JMLSG.Org.Uk

Prevention of ML/CTF 2017 Consultation Version Guidance for The UK Financial Sector
[Part III: Specialist Guidance] - May 2017 - JMLSG.Org.Uk

Local Bitcoins Trader Pleads Guilty to Money Transmitter Charge
May 25, 2017 - 247 BTC.Net - A Michigan LocalBitcoins trader plead guilty last week to operating an unlicensed money services business. Federal prosecutors alleged that Sal Mansy, a resident of Detroit, advertising a ... Read More ...

Proposed tax on remittances won't fix America's broken immigration system
[Opinion] - May 25, 2017 - STL Today.Com - Bills being floated in Congress by a handful of Republicans would impose taxes on remittances - money U.S. residents send abroad, usually to relatives - to pay for President ... Read More ...

Dubai Regulator Lowers Regulations with FinTech License
May 26, 2017 - Crypto Coins News.Com - Samburaj Das - Dubai's financial regulator is making it easier for FinTech startups and firms to gain entry and offer new services in the region through the introduction of its Innovation Testing License ... Read More ...

Six-month extension for Haitian TPS is not enough
[Opinion - Haiti] - May 25, 2017 - Miami Herald.Com - Ted Deutch & Mark Hetfield - Department of Homeland Security Secretary John F. Kelly has made the right decision to extend temporary protected status (TPS) for Haitians living in ... Read More ...

Also See:
Secretary Kelly's Statement on the Limited Extension of Haiti's Designation ...
[Press Release] - May 22, 2017 - DHS.Gov


Advanced, One-On-One NMTA Compliance Training


Calibrate Your BSA/AML Knowledge

These questions were originally developed for the One-On-One Training, but it occurred to me, if one knows the answers already, why sit through the training?
So, if you would like to sit for the test, just become an Individual NMTA Member [annual dues: $295]. NMTA Corporate Members may sit for the test at no additional charge.
You will receive all the answers in writing, to study in advance, and I will give you one hour of one-on-one test preparation over Skype, included. The tests contain the questions I think every compliance professional should know the answers to.
The test will be given orally, over Skype. Afterwards, I will also ask you to look up certain reference documents on the web, under observation. If you pass, you will receive an Achievement Certificate.
If you think you would like some tutoring before taking the test, please check out the One-On-One NMTA Training, and call me with any questions you may have.

Now here is that pop quiz for all you BSA/AML geeks:
   BSA/AML Literacy Test
These are the core questions. For extra credit, have a look at these:
   Additional Questions


Agent 3-In-1 Supervision Package

NMTA White Paper Released 12/15/2015
"How to Bank MSBs and Payments Companies"
   En Español:
   Recomendaciones Para Bancarizar MSBs

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