Regulatory Compliance

Since 9/11 no aspect of international finance has garnered more interest and regulatory oversight than remittances. This has obvious implications with the myriad of money transfer business’ (MTB’s) operating today. Most MTB’s have minimal safeguards in place allowing for porous control over know your customer (KYC) and various other obligatory acts and regulations. These MTB’s will imminently face harsh scrutiny from federal and state officials as enforcement increases.

The aKos Mobile Remittance Gateway addresses each of these acts as well as complies with all governing bodies’ acts and regulations regarding remittances. aKos’ technology was designed from the ground up with the utmost security and regulatory compliance in mind. In fact, aKos has raised the bar in its compliance methodologies. This focus on security is a major differentiating factor for aKos in the marketplace. As the regulatory bodies look to address this market more rigorously, enforcement will become more aggressive. The aKos advantage on security and compliance is due to our unique system architecture in the US as well as our foreign financial partners’ direct relationships with merchants.

aKos provides complete state, federal and international regulatory compliance with:

  • Bank Secrecy Act (BSA)

  • Patriot Act

  • Anti-Money Laundering (AML)

  • Know Your Customer (KYC)

  • Financial Crimes Enforcement (FinCEN)