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 [...]
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 [...]
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, [...]
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 [...]
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 [...]
