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 [...]
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, [...]
