"She did it electronically, transferring money to an Internet-based bank, then moving that money to an account we can't find, probably offshore".
Electronically transferring money across state lines to execute a fraudulent transaction is illegal under well-established federal law.
n Plastic card encoded with an amount of money for small purchases at vending machines and pay phones 1991 Nov 22 Thomson's International Banking Regulator 1 (Popik) 1995 Mar 21 Saul Hansell New York Times D3/6 Unlike debit cards, which transfer money electronically from customers' bank accounts, the new "electronic purse" cards will have an amount of money stored on them.
In addition to the daily ATM limits, Greeks are also unable to electronically transfer any money out of the country without government approval.
Now, using tcho-tcho, people can transfer money electronically by just using their handsets".
With little access to formal banking services, many Ugandans rely on mobile telephone companies to store and transfer money electronically.
People in Kenya, for instance, already use a successful text-message-based service called M-PESA to transfer money electronically to other mobile users.
VeriFone is one of a number of companies using sound waves to transfer small amounts of data over short distances, which could make it easier to transfer money electronically, among other things.
"For the first time you can transfer money electronically between any working branch," says Shirko Abid, B-Plan's executive chairman, a British Iraqi who also happens to be a Kurd.
Once registered, they can deposit or withdraw cash at the agent or transfer money electronically to any mobile phone user, even if the recipient is not a Safaricom subscriber.
