Penalties for Violation of Certain Money Transmitter Laws

On Monday, September 22, DWT payments team member Andy Lorentz spoke at ACI's 8th Emerging Payment Systems Conference in Washington, DC, as part of a panel entitled "Ensuring Compliance with the Increasingly Aggressive State Regulatory and Enforcement Framework Governing Emerging Payment Systems, Including Virtual Currencies: An In-Depth Examination of Issues Relating to Money Transmission, Payment Processing, Licensing, and Other Considerations."

Amongst other topics, Andy discussed penalties for violating certain money transmitter laws. For a quick summary of those penalties, click here.