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Monitoring Period has Ended

The internet payment processing company, Neovia Financial breathed a huge sigh of relief this week as the US Department of Justice has fully cleared the Neteller division of the company from any further prosecution. Neteller’s case with the US DoJ made headlines two years ago when the company was fined 136 million for involvement in processing transactions for the US online casino gambling industry. That proved a huge setback for the primarily US-facing e-wallet but the company has spent the past two years rebuilding and establishing a strong presence in the UK and European markets.

In addition to the hefty fine for processing transactions between online casinos and US gamblers Neteller agreed to a probation of sorts for two years. The Deferred Prosecution Agreement held for two years and Neteller had to abide by certain conditions throughout those two years in order to face no further negative action and prosecution from the US DoJ. The news this week indicates that Neteller has passed through all of the DoJ hoops and was cleared of whole situation this week.

That means that Neteller and Neovia in particular can fully move past this situation and expand the business. There was always just a hint of a threat looming over the company while the DoJ still had some authority to prosecute Neteller. That has passed though and the Isle of Man based online casino and internet e-cash processor and well and finally move on and put the US situation in the past; well, put the situation in the past for as long as it takes the US government to pass new legislation legalizing internet gambling, then Neteller make new moves into the US market.