National Money Transmitters Association, Inc.
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December 1, 2014

Dear Member,

As an exclusive benefit of NMTA membership, the Daily News Clippings (the DNC) will be sent out every weekday to NMTA members only.
This edition includes stories from November 27th (Thanksgiving).
Your comments and feedback are needed, so we can make the DNC better.





Westpac keeps Somali money transfers open until Federal Court hearing


Nov 27, 2014 - Heraldsun.Com.Au - Laura Armitage  

WESTPAC will keep financial lifelines for the Australian Somali community open until a Federal Court hearing on Friday. The financial institution is the last of the big four Australian banks to offer money transfer services to the remittance operators helping Somalis send cash to their families overseas....


FinTech Startup Azimo Launches New £1 Money Transfer Service to Lithuania


Nov 27, 2014 - Business Wire.Com  

Azimo, the online money transfer service, today announced that customers can now send money to Lithuania for a flat fee of just £1 for any amount. The new service comes ahead of Lithuania's scheduled adoption of the Euro on 1 January 2015. Azimo already charges a flat £1 fee to the...

Snapchat partners with Square to debut Snapcash money transfers


Nov 17, 2014 - Apple Insider.Com
Snapcash appears to be a repackaging of Square Cash, an Internet-connected service that lets people send money to each other via email, app or the Web. Unlike Cash, which draws money from credit cards, Snapcash links directly with users' bank accounts, a feature already under scrutiny for security concerns....

Remittance firms sue Australia's Westpac as banks shun money transfer firms


Nov 28, 2014 - Uk.Reuters.Com - Swati Pandey
An Australian court case is set to throw a spotlight on a steady retreat by Western banks out of the $435 billion (276.5 billion pounds) global remittance business, a trend that threatens to erode the livelihoods of hundreds of millions of the world's poor. Almost 20 remittance firms sued...

North Dade credit union fined $300,000 for anti-money laundering violations

Nov 26, 2014 - Biz Journals.Com - Nina Lincoff 
Federal regulators slapped the North Dade Community Development Federal Credit Union with a $300,000 fine for alleged violations of anti-money laundering laws. Enforcement actions such as these against credit unions are rare, but the Miami Gardens-based North Dade Community...

Must subscribe to view the article...................ed.


Nov 27, 2014 - Stabroek News.Com
Attorney General Anil Nandlall has told a meeting in El Salvador of the Caribbean Financial Action Task Force (CFATF) that Guyana will likely complete the non-legislative aspects of its anti-money laundering plan before the deadline of May next year but the ultimate date for legislative changes....

Western Union ambitious in seeking a partner in India


Nov 26, 2014 - Money Control.Com - Gopika Gopakumar 
Ahead of the Reserve Bank of India's (RBI) final guidelines on payment and small finance banks, financial players like Western Union are gearing up to test the banking waters. Speaking exclusively to CNBC-TV18, the money transfer company says it will work with a partner to apply for a licence reports ...

RBI releases final guidelines for setting up of Payments Banks


Nov 28, 2014 - medianama.com - Shashidhar KJ
The Reserve Bank of India released its final guidelines for the setting up of payments banks in the country. The move aimed at improving financial inclusion in the country will allow  Pre-paid Payment Instrument (PPI) issuers, Non-Banking Finance Companies (NBFCs), corporate BCs, mobile ...

Govt may amend Prevention of Money Laundering Act


Nov 27, 2014 - ENI.Network 24.Co - Shailesh Nigam
The government may amend the Prevention of Money Laundering Act (PMLA) to deal with the much-talked about black money issue, Finance Minister Arun Jaitley has said. Jaitley also added that those pushing for early disclosure of names are helping black money holders. He further said ...

Money laundering still 'not serious'


Nov 26, 2014 - the Malaysian reserve.com - Farah Adilla
The issue of money laundering by small unscrupulous and unlicensed money changers in the country are not serious and still manageable, according to Travelex Malaysia GM/CEO Rakesh Aravind. "Occasionally, you'll find certain individuals who are insistent on pushing the envelope. But ...

Tie-ups and Mobile Remittances to Foster Future Growth


Nov 27, 2014 - PR News Wire.Com - Executive Summary 
The report titled "The US International, Domestic Money Remittance and Bill Payments Market Outlook to 2018 - Tie-ups and Mobile Remittances to Foster Future Growth" provides a comprehensive analysis of the various aspects such as inward and outward remittance statistics ...

Mobile money: no pain, no gain?


Nov 27, 2014 - Telecoms.Com
Telecoms.com periodically invites expert third-party contributors to submit analysis on a key topic affecting the telco industry. In this article Luis Moura Brás, Professional Services Manager, Fraud at WeDo Technologies discusses the importance of securing mobile financial services offerings with ...

Digital Finance Institute Launched to Promote Innovative Payment Technologies like Bitcoin


Nov 26, 2014 - Forex Minute.Com -  Yashu Gola
The Digital Finance Institute (DFI) announced its launch as the convener of digital financial technologies like Bitcoin and Internet of Things. The Canadian not-for-profit organization will be creating a strategic link between the veterans of digital and traditional finance sector to ...

Confab Backs Nigeria Financial Intelligence Centre Bill, Others


Nov 27, 2014 - Leadership.Ng - Kingsley Alu
As efforts to strengthen Nigeria's legal framework against corruption gathers momentum, civil society organisations in Nigeria have thrown their weight behind the Proceeds of Crime (POCA) , Mutual Legal Assistance (MLA) and Nigeria Financial Intelligence Centre (NFIC) Bills being ...

OECD report highlights deepening economic breakdown


Nov 27, 2014 - WSWS.Org - Nick Beams 
The Organisation for Economic Cooperation and Development (OECD), in its latest Economic Outlook report, has painted a gloomy picture of the state of the world economy. Growth and investment are at historically low levels, especially in the euro zone, without any end in sight, amid the risk of ...

America's economy - The lonely locomotive


Nov 29, 2014 - economist.com
THERE is a spring in America's step these days. A revision released this week raised annualised economic growth in the third quarter to 3.9%; it has averaged more than 4% in the past two quarters. The irrepressible stockmarket keeps hitting new highs, the most recent on ...

New Decentralized Trust Finance


Nov 27, 2014 - crypto coins news.com - Nuno Edgar Fernandes 
Cryptocurrencies may well be a successful structure of decentralization of trust (decentralized trust). Trust has been undeniably a cornerstone of economic and financial systems throughout History. But if we look with impartial analytic eye we can see also that the discovery of trust in economic systems... 

Bitcoin slowly growing in Africa


Nov 27, 2014 - PC Tech Mag.Com - Ephraim Batambuze III
Software-based online payments system or crypto-currency which is not backed by any central bank has taken off across the world, although it has it been short of controversy. BitX, South Africa's largest Bitcoin exchange which launched last year and operates in South Africa and Kenya as well... 

Who Will Benefit From Digital Currency? Bitcoin Experiment Gives A Glimpse


Nov 26, 2014 - Forbes - Laura Shin
One of the questions that's still an open question is whether, if all your friends had Bitcoin, if you would find it useful to use Bitcoin too. Right now, people don't use Bitcoin to split checks, because for every person who has Bitcoin, most of their friends don't. But if you had a whole community... 

Horie sees bitcoin as route to more security, less government


Nov 28, 2014 - japan times.co.jp - Kazuaki Nagata
The failure earlier this year of Tokyo-based bitcoin exchange Mt. Gox may have stirred Japanese doubts about the credibility of the digital currency. But despite its demise, many people worldwide view bitcoin technology as a world-changing innovation. Among them is Takafumi Horie ...

Texas becomes a key frontier for bitcoin digital currency


Nov 27, 2014 - States Man.Com - Jill Craig
Michael Cargill teaches a concealed handguns safety class at his Austin firearms store while the online version of the business initiates FBI background checks on out-of-state buyers paying in bitcoin. He says accepting the virtual currency has boosted sales by 50 percent. "There are ...

M's Opinion No. 36 Virtual Currency "Bitcoin"- The Problems and Possibilities


Nov 26, 2014 - MEIJI.Ac.Jp - Yoshihiro Asai
The news of Bitcoin, a virtual currency on the internet, which caused "Mt Gox" to suspend transactions due to unauthorized access and hacking in February 2014, is still fresh in our memory. I would like to hereby examine the problems and possibilities of the new settlement tool-the ...

Cryptocurrency Round-Up: Ripple Rockets, Red Cross Accepts Bitcoin and MtGox Investigation


Nov 27, 2014 - IB times.co.uk - Anthony Cuthbertson
Bitcoin has seen an uncharacteristically stable 24 hours, shifting by less than 0.1% in value to keep its price hovering around the $370 mark. Several other major cryptocurrencies have followed bitcoin's lead, with litecoin, peercoin, namecoin and darkcoin all moving by around 1% since yesterday. ...


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