hyperWALLET news! We’ve submitted a provisional patent which reads in part: The innovation can help financial services companies and multi-nationals send money globally in a low-cost, low hassle manner, and in accordance with anti-money laundering and anti-terrorist financing best practices.    The software behind the patent permits a person to receive funds electronically without having to [...]

Over the past decade, United Nations resolutions and domestic equivalents designed to combat crime and terrorism have imposed an increasing operational burden on the financial services industry.  Sanctioned Individual and Sanction Entity list screening have become a standard operational protocol at financial institutions and money services companies. Financial Institutions rely on proprietary datasets drawn from [...]

Also a final whine about TD declining my card. Canada rolled out chip+pin for our national debit scheme in 2010 and we’ve all just about gotten the hang of it at the POS now, even cranially-challenged consumers like me. chiping+Pining debit purchases wasn’t a huge leap since Canadians have been swiping+PINing our debit cards for [...]

Electronic Services and Mobile Money initiatives have the potential to drive prices that remittors pay way down, but that potential has not been realized yet. On Septebmer 27th the Washington Post ran an article which began: “The Obama administration wants to require U.S. banks to report all electronic money transfers into and out of the [...]

Since returning from Dubai last week, I haven’t even had time to follow up with many of the great people I met up with there. But today I decided to publish my presentation which had a session working title of  “International Remittances: from Paper To Mobile”, complete with voice-over, and hopefully the same anecdotal content as [...]

Held October 17-19 in Victoria B.C., Canada, the 7th annual Money Laundering in Canada Conference boasted a well-rounded list of attendees that included a number of Money Services Businesses (MSBs), Financial Institutions, Credit Unions and Foreign Exchange Brokers, and regulatory authorities such as FINTRAC  (Canada), FinCEN (USA), OSFI (Canada) and the RCMP. As the Compliance [...]