On May 19, 2026, the President of the United States of America, Donald J Trump, signed an Executive Order, “Restoring Integrity to America’s Financial System,” that expands customer due diligence expectations and enhances financial transparency requirements. While early discussions focused on whether financial institutions would be required to collect proof of citizenship from all customers, […]
Obtaining a money transmitter license (MTL) in the United States is a multifaceted process that requires adherence to federal and state regulations. These licenses are essential for businesses that transfer funds or facilitate financial transactions on behalf of others, including electronic money transmission, currency exchange, and handling digital assets such as cryptocurrencies. The licensing process […]
YES, every check needs to be run through your check cashing system. It is important to know your customer (KYC), adhere to the Bank Secrecy Act (BSA) compliance rules, and mitigate your loss and risk. Auditors/regulators require Money Services Businesses (MSBs) to have check cashing software, like Paycheck Secure, in order to comply with BSA […]
