Latest opinions that Hugo Cuevas-Mohr has shared on Finextra

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Hugo Cuevas-Mohr

CEO

Mohr World Consulting - IMTC Conferences

Member since

10 Mar 2012

Location

Miami

View Hugo Cuevas-Mohr's full profile

Hugo's opinions

THE SHIFTING VIEWS ON FAMILY REMITTANCES

After a series of media interviews a couple of weeks ago, in a trip to Guatemala, I realized in a moment that I was witnessing a change in the public perception of remittances that I had not grasped before. Answering one by one journalist questions, it was unquestionable that I was witnessing a shift that I had not noticed before. After thinking a...

13 February 2017 /inclusion Innovation in Financial Services

OVERSEAS WORKERS IN SAUDI ARABIA: Lay-offs, Remittances and Government intervention

The situation in Saudi Arabia for overseas workers is critical. During the oil boom migrant workers went from 5.3M in 2000 to 10.2M in 2015 according to UN figures. More than 1M have lost their jobs in 2016 and remittances are dropping more than 20% every month compared to last year's figures. Shivaji Sarkar wrote in The Pioneer: “The hiking petro...

08 September 2016 /payments /inclusion

FATF-GAFI GUIDANCE - A Risk-Based Approach for Money or Value Transfer Services

The timing could not have been better. FATF just published – February 2016, a report that all Compliance Officers of this industry must read, entitled Guidance for a Risk-Based Approach for Money or Value Transfer Services (Summary – Full Report (69 pages). I want to highlight three statements in the presentation of the report: The risk-based app...

03 March 2016 /payments /regulation Financial Services Regulation

The US Government Accountability Office -GAO Reports on INTERNATIONAL REMITTANCES

I think it is very important that every person in the International Money Transfer & Payments (IMT&Ps) industry reads the GAO Report published on February 16th, 2016, entitled INTERNATIONAL REMITTANCES: Actions Needed to Address Unreliable Official U.S. Estimate – Highlights Page (1 page), Full Report (62 pages). A second report published t...

02 March 2016 /payments /regulation Financial Services Regulation

THE SOMALIAN REMITTANCE CRISIS

When Remittances Are Needed The Most As part of our presentation on the Somalian Remittance Crisis at IMTC USA 2015 and IMTC EMEA 2015 here are some key aspects that you should know about Somalia, the Somali Diaspora, Somalian Remittances and the Somalian Remittance Crisis. You can download a PDF from here. A BIT OF HISTORY The Somalian[1] histo...

17 March 2015 /payments /regulation Financial Services Regulation

On De-Risking, The Somalian Remittance Crisis and the MSB Bank Discontinuance crisis

In English, a “moving target” is when you set your expectation for something – some task, some desirable outcome, a target, and then when it is met you ‘move the target’ and set another expectation. It means that the person or entity you have set the expectation for is never able to fulfill it, never reaching the target. And “De-Risking” is fast b...

13 February 2015 /payments /regulation Financial Services Regulation

Developing partnerships with a licensed money transmitter

We all know that technology and the creativity surrounding the tech revolution is inspiring a vast number of payment innovations. Online financial services, mobile payments, eWallets, bitcoin & the virtual currencies explosion, smarter ATMs, tools such as contactless chips, beacons, geo-location, are seeking to make payments more inclusive, ea...

24 January 2015 /regulation

US TREASURY ROUNDTABLE ON FINANCIAL ACCESS FOR MSBs

In the Cash Room of the Treasury Building last Tuesday, January 13th, 100+ attendees gathered to participate in the Roundtable organized by the US Treasury in order to discuss the wave of account closures - Bank Discontinuance - that the Non-Bank Financial Services Institutions or MSBs [Money Service Businesses] in the US are facing. It was a...

15 January 2015 /payments /regulation

The TEN news of the Money Transfer Industry in 2014

As I did for 2013, I have put together the 10 most important news stories for the International Money Transfer Industry in 2014, as a way to reflect back and at the same time analyze the trends for the coming year. They are not necessarily in order of importance. They are based on my personal opinions and ideas from friends and colleagues in the i...

07 January 2015 /payments

Three Brazilian Money Transmitters in the US ordered to stop

The announcement Wednesday, April 10th 2013, that one Licensed Money Transmitter, Braz Transfer, was shot down by the Massachusetts Division of Banking (http://1.usa.gov/ZezCTc ) and two other were issued orders of Cease and Desist has been seen by many as a long-time-coming victory in the battle against the Brazillian Parallel Market. The two Cea...

12 April 2013 /payments /regulation

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