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Insights

Sanctions and PEP – Expect More and Stricter Implementation

MTBs – Compliance is the Key to Long-Term Growth

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

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Money Transfer Services – Why Small Details Matter

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.

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Money Transfer Businesses – Don’t ignore the FCA!

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 FCA may be busy, but...

Transaction Monitoring for Money Transfer Services  – More Than Counting Clicks

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 faces a broadening market with...

As UK Remittance Services Boom, the Need for Effective Compliance Becomes More Urgent

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 growth in cross-border payments. Here,...

MTBs – Compliance is the Key to Long-Term Growth

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 enterprises are enlarging their networks,...

MTBs: Maintaining Regulatory Compliance is Easier Than You Think

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. Estimates of its approximate annual...

Offering Remittances at 0% fees? Ensure your MTB operations are seamless!

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 for transfers from the UK...