# Remittance services (also usually referred to as money transfer services in German)

- Canonical URL: https://www.gerhardmerk.de/remittance-services-also-usually-referred-to-as-money-transfer-services-in-german
- Post ID: 594489
- Modified: 2023-07-25T21:11:57+00:00
- Language: en

## Definition

The procurement of the delivery of cash, giro money or electronic means of payment from a principal to its customer. Since October 2009, the professional operation of such businesses has been subject to the Payment Services Act. Supervision Act. - A serious problem is posed by unlicensed financial transfer service providers, usually in ethnically segregated environments. Among other things, they are considered suspected of money laundering as well as terrorist financing. - See steam room, financial agent, money laundering, hawala, money transfer intermediary, ghetto banking, underground banking, angle broker, payment institution. - See BaFin Annual Report 2003, p. 71, BaFin Annual Report 2004, pp. 83 et seq. (special supervisory and investigative measures), and the respective BaFin Annual Report. Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent! University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec. Professor Dr. Eckehard Krah, Dipl.rer.pol. E-mail address: info@ekrah.com https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk https://www.jung-stilling-gesellschaft.de/merk/ https://www.gerhardmerk.de/

## Machine-readable

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