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 [...]
In today’s fast-changing regulatory world, AI is a major topic in compliance, and it’s easy to see why. Machine learning and automation help analyse large amounts of data, spot patterns, and flag risks quickly. AI is helpful, but it can’t replace human judgment, practical insight, or the real-world experience needed for AML compliance. The [...]
Training is a key pillar of compliance. However, many businesses struggle to engage with this element in meaningful ways. At Neopay Global, we’ve identified several areas where misunderstandings commonly arise. Here’s a guide to address these areas and offer practical solutions to make training more effective, engaging, and impactful. Making training engaging and meaningful [...]
Neopay Global’s Virtual Compliance Service (VCS) gives you the expert guidance you need to stay compliant, reduce risk, and grow with confidence — all for as little as $3,400/month over 12 months. Whether you're preparing for your first BSA/AML audit or looking for long-term compliance support, our team of experienced professionals delivers a smarter, [...]
The Consumer Financial Protection Bureau (CFPB) is at the center of one of the most contentious debates in American financial regulation. Created in 2010 as part of the Dodd-Frank Act in response to the 2008 financial crisis, the CFPB was designed to protect consumers from deceptive and abusive financial practices. However, its future remains [...]
At Neopay Global, we offer a range of solutions tailored to firms' needs. All of our audits draw on the market-leading experience of our team to deliver a detailed and practical report. Despite the upfront costs, we all know that regular audits are an essential part of regulatory compliance. And with current supervision and [...]
FedNow Launch and Fintech Innovation Drive Americans Towards Digital Transactions In a recent survey titled "Cashing in on the rise of digital – key trends in US payments," it was revealed that a significant majority of Americans are anticipating a complete transition to digital payments in the near future. The survey, conducted by Temenos, [...]
The digital revolution, spearheaded by digital banking, cryptocurrency, artificial intelligence (AI), and digital payment systems, has significantly contributed to the exponential rise in global financial crime compliance costs. According to the recent findings of the True Cost of Financial Crime Compliance Study by LexisNexis Risk Solutions for 2023, the increasing costs have surpassed a staggering $200 [...]
With the upcoming July launch of the Federal Reserve's instant payment platform, FedNow, many are wondering how it differs from the existing Real-Time Payments (RTP) network. While both systems enable 24/7/365 clearing and settlement of domestic payments in the United States, a closer examination reveals unique advantages and characteristics for each method. In this [...]
