If you run a Money Transfer Business (an MTB) which provides Money Transfer Services, you’ll already know that it’s a regulated activity within the scope of the Financial Conduct Authority, the FCA. You’ll understand the obligations that relationship creates. The

The United Kingdom’s remittance sector, long dominated by money transfers to the Indian Subcontinent, is experiencing  growth and diversification. Remittances to Caribbean nations and several African countries continue to grow, especially to those in West and Sub-Saharan Africa. The industry

As cross-border remittance services flourish globally, the imperative to counter financial crime and ensure effective regulatory compliance has never been clearer. Activity in the United Kingdom is a good example of this need. In the UK there has been significant

Money transfer businesses (MTBs) operate in a sector characterised by a long phase of sustained expansion. Growth statistics project a global market value of $83.2 billion by 2034. That’s a compound annual growth rate of 13.5%​​. In this environment, established

Money transfer businesses (MTBs) play a vital role in the global financial ecosystem, facilitating cross-border transactions for millions. However, the sector also faces increased scrutiny due to its potential for misuse by criminals. Financial crime is a significant global threat.

A recent announcement by money transfer business (MTB) LemFi highlights a growing trend in the UK remittance market. Along with other providers they now offer zero fees on some transfers, coupled with competitive exchange rates. LemFi’s promise is zero fees

In the UK, financial services regulation is stringent. Expectations are high, within the industry, and more broadly in the economy and society too. Non-compliance can have severe consequences, including fines, reputational damage and, potentially, the loss of the right to

As in any other business, in the UK’s remittance sector getting the details right is fundamentally important. It’s a growing market, possibly booming. Operators who pay consistent attention to detail should succeed. Those who take shortcuts make themselves especially vulnerable.