Check cashing software plays a crucial role in enabling secure and efficient transactions. However, with great functionality comes the responsibility to comply with numerous regulatory requirements. Let’s explore the essential compliance considerations and how smart software solutions can help money services businesses (MSBs) adhere to rules and regulations while building customer trust. Staying Compliant with […]
Compliance training is an essential component of running a money services business (MSB), especially for those involved in money services transactions. But do all your employees really need it? Let’s explore the key factors to consider when making this decision. Who Needs Compliance Training? Industry best practices recommend that any employee handling money services transactions […]
The Short Answer: Yes! If you operate a check cashing business, every check must be processed through your check cashing system. This is not just a best practice—it’s necessary for compliance, fraud prevention, and risk management. 3 Reasons Why 1. KYC Compliance Know Your Customer (KYC) regulations require businesses to verify the identity of their […]
As a money services business (MSB), banking challenges are the price of doing business, but it doesn’t have to be. Maintaining or securing a strong banking relationship is essential for survival. If your business has ever faced banking hurdles, understanding common pitfalls can help you stay ahead. Here are some key factors that often lead […]
Failure to upgrade your computer system to Windows 10 will compromise your security. Windows 7 is officially not receiving any more security updates as of January 14, 2020. The need to upgrade to Windows 10 has become increasingly more dire. Upgrading your current system is not as difficult as it was with previous versions. In […]
