Neteller’s Demise – Wire Transfer Act (WTA)

The Federal Wire Act is a US federal law prohibiting the operation of certain types of betting businesses in the United States. As a result, operations of this wire transfer company have been suspended after becoming the target of an investigation by the US Department of Justice in 2007.

While the company’s shares have been suspended since January, the company has indicated that it is working towards a resumption of trading soon. It has since settled with the US DOJ, where it plead not guilty to charges, but admitted to wrongdoing.

No further updates are available at this time, however we will be watching for any further developments.

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