The Financial Crimes Enforcement Network (FinCEN) has proposed a rule that may significantly change how financial institutions design and manage AML/CFT programs under the Bank Secrecy Act. The proposal marks a shift from volume-driven compliance to a focus on measurable effectiveness in combating financial crime. Key Points: What You Need to Know FinCEN is [...]
Launching a card or e-wallet program offers significant opportunities, but many fintechs underestimate the complexity involved. Securing an issuing bank, completing due diligence, and coordinating multiple partners can cause even well-funded programmes to stall before launch. In this interview, Reiner Vanooteghem, Chief Commercial Officer at Neopay Global, shares his insights. With over 20 years [...]
Safeguarding of client funds continues to be a high priority in the payments markets globally and the new RPAA rules require all Canadian Payment Service Provides to have a written Fund Safeguarding Framework describing their systems and controls; policies and procedures; monitoring and oversight; and other relevant documentation to ensure end user finds are [...]
What this means for US Financial Industry Firms FinCEN has significantly increased its remote monitoring of AML controls for MSBs, Payments and E-Money Firms, using powerful computing and AI methods to identify shortcomings. Recent actions include a $3.5 million penalty on Paxful and a record $1.3 billion against TD Bank as well as action [...]
Protect against potential costly FinCEN fines and penalties. Contact Neopay Global’s AML experts today to review your AML compliance program. Treasury deploys cutting-edge technology to target potential money laundering breaches US Treasury Secretary, Scott Bessent, has issued a serious video warning to MSB's, Banks and all Financial Institutions, cautioning that potential cartel related money [...]
For many organizations, Anti-Money Laundering (AML) training is just another requirement. It’s mandatory, often repetitive, and usually focused more on theory than on real-world application. But effective AML training shouldn’t hold your teams back. It should help them become stronger, more confident, and better prepared to protect your business. Across North America, regulators such [...]
FinCEN’s latest Financial Trend Analysis highlights the continuing impact of ransomware on the financial system, identifying more than $2.1 billion in reported ransomware payments between 2022 and 2024, with financial services emerging as the most targeted industry by value. Unlike previous reports that focused on when activities were filed with FinCEN, this analysis looks [...]
With the 2025 year-end approaching, now is an ideal time for payments, money services, and e-money firms across the US and Canada to review their compliance priorities and prepare for upcoming regulatory changes. This is a practical moment to evaluate where your firm stands — from financial crime and online risk controls to safeguarding, [...]
RPAA Compliance is Now — Ensure Your Company is Protected As of September 7, 2025, all Money Services Businesses (MSBs) and Payment Service Providers (PSPs) operating in Canada must comply with the Retail Payment Activities Act (RPAA). With over 1,600 registered RPAA applicants now listed by the Bank of Canada, many MSBs and PSPs [...]
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has issued guidance to promote appropriate, voluntary sharing of information across borders between financial institutions, including foreign financial institutions. The guidance clarifies that while financial institutions are prohibited from sharing Suspicious Activity Reports (SARs) or information that would reveal the existence of a [...]
