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Mar 31, 2025
If you hear about OFAC’s new 10-year recordkeeping rule today, it’s already too late and you are in risk.
Starting 21 March 2025, anyone subject to U.S. sanctions laws—including non-U.S. firms. If your business touches U.S. dollars, U.S. infrastructure, U.S.-owned entities, or sanctioned jurisdictions in any way, this rule applies to you. This includes companies using U.S. correspondent banks, international payment processors, or outsourced compliance providers, too.
The implications go far beyond compliance. Payment structures, data retention policies, vendor agreements, and internal documentation systems must all adapt—immediately.
EU companies face an added risk.
Under GDPR and AML regulations, personal data collected for AML purposes generally must be deleted after five years unless there’s a specific legal obligation to keep it longer. That’s where the problem starts. OFAC has acknowledged this tension but won’t accept it as an excuse for non-compliance.
There is no transition period. No exemptions. No grace window.
Is your business ready?
Read my article: https://www.linkedin.com/pulse/ofac-trap-most-companies-fail-10-year-record-rule-now-soltesz-19a5f
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Mar 28, 2025
RTP vs. ACH vs. FedNow – Which one suits your fintech platform? 💡
Choosing the right bank transfer method impacts speed, cost, and reliability.
🔹 RTP: Instant payments, but with limited network coverage.
🔹 ACH: Cost-effective for bulk transfers but slower processing.
🔹 FedNow: A new Fed-backed system for 24/7 real-time payments.
Read more -here: https://www.fintegrationfs.com/post/rtp-vs-ach-vs-fednow-choosing-the-right-bank-transfer-option-for-your-fintech-platform
#Fintech #Payments #BankTransfers #RTP #ACH #FedNow #FinancialTechnology #PaymentsInnovation
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Mar 26, 2025
Hi everyone,
What a fantastic group this is , so glad I have joined and chatting to some really smart folk!
Just reaching out - I provide hands-on fractional CFO support to a small number of
businesses and currently have capacity to take on new clients.
I work across finance operations, reporting, forecasting, and systems —
and I’m also building an AI-powered valuation and insights platform that will soon be released — watch this space!.
If this is relevant to your business — or someone in your network — I’d
love to connect for a quick chat.
Kind Regards,
Alan Sharfman
Experienced CFO | Fractional Finance Partner
📧 alan@finoptim.com.au | 📱 0425 835 398
🌐 www.finoptim.com.au | LinkedIn
Upvoted by Alan
Upvoted by 1
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Mar 26, 2025
Your wire transfers may no longer be safe—and neither is your business.
A US court just ruled that if a consumer sends a wire online, the bank could be held liable under fraud rules that were never meant for wires. This flips decades of legal understanding and forces banks to take on risks they were never prepared for.
Many will start blocking online wires, adding heavy compliance steps, or removing the option altogether.
If your business relies on wires and you don’t have a proper banking setup, you could lose access, lose money, or get stuck in legal disputes with no support.
Read my article for more information: https://www.linkedin.com/pulse/why-citibank-ruling-should-worry-every-bank-consumer-who-soltesz-542sf
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Mar 25, 2025
🚀 FinOptim AI – your AI-powered business valuation & insights tool
** Know what your business is worth. Plan what’s next**
— Built for founders, investors and CFOs
— Instant valuations, deeper insights
— Model growth, plan scenarios, de-risk decisions
— Seamless Xero and Stripe integration
Built by a CFO for real world outcomes
🌐 www.finoptimai.com (coming soon!)
If you're building or backing smart AI business tools, I’m always open to connecting, learning, and exploring ways to collaborate.
Lets connect!
#AI #Fintech #BusinessValuation #SaaS #Xero #StartupTools #CFO #Growth
Upvoted by Alan
Upvoted by 1
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Mar 22, 2025
Stablecoins Are Breaking the Correspondent Banking System
Mesh raised $82 million without using a single bank—no SWIFT, no delays, no intermediaries. Just instant settlement through a stablecoin.
Meanwhile, most businesses are stuck between broken banking systems and unregulated stablecoin options—risking frozen funds, failed payments, and months of profit wiped out without warning.
The real problem isn’t the tools. It’s the lack of planning.
Most companies have no strategy for how money moves, which leads to operational chaos, high fees, and account closures they didn’t see coming.
You can’t fix this with assumptions or blindly following an advice from a forum. You need a proper payment and banking setup—because getting it wrong won’t just cost you money, it can cost you the business.
Read my article for more information.
https://www.linkedin.com/pulse/fintechs-stablecoins-breaking-correspondent-banking-system-soltesz-9lilf/
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Mar 20, 2025
The Money Laundering Webinar
Viktoria Soltesz, Founder of The Soltesz Institute hosted an exclusive discussion with financial crime expert Kenneth Rijock, revealing the real-world methods criminals use to move illicit funds through banks and payment providers.
Money launderers don’t use fake IDs or stolen cards—they use real businesses, legal structures, and bank accounts to clean dirty money.
Most banks assume high-risk jurisdictions are the problem, but the real threats hide in plain sight, blending seamlessly into legitimate transactions. Payment processors are an easy target because money moves too fast for outdated compliance methods to catch.
One mistake can get your accounts frozen, your business shut down, and land you in serious legal trouble.
Learn More Kenneth Rijock’s upcoming seminar at The Soltesz Institute will provide an inside look at modern laundering tactics, the weak spots criminals exploit, and how financial institutions can defend against them.
Watch the full webinar at The Soltesz Institute: https://solteszinstitute.com/course/the-special-money-laundering-problems-of-payment-processors
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Mar 18, 2025
Posting to introduce myself and my fintech Company. APPROVE is an embedded platform for equipment finance. APPROVE is used by equipment sellers (manufacturers and distributors) so that their customers can finance the purchase of equipment from them. We have partnered with the nation's (USA) top equipment finance direct lenders and we have over 900 equipment sellers using our platform. I look forward to connecting with potential lenders, partners, platforms or others who could add value to the APPROVE ecosystem and equipment finance. For more information, visit our site at https://www.approvepayments.com
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Mar 15, 2025
Visa’s New VAMP Rules Will Cost You—Here’s Why You Should Be Worried
Visa is charging merchants per transaction for fraud and chargebacks.
Visa is tightening its grip, and businesses that don’t take action now will pay for it—literally. Visa is no longer just flagging high-risk merchants—it is charging them per transaction.
If a customer disputes a charge, even fraudulently, it counts against you. If your dispute rate crosses Visa’s limits, you pay penalties on every transaction, and winning a chargeback later won’t refund the fines.
Acquirers won’t take the risk and will start cutting off high-risk businesses. This is not just a cost issue—it’s a threat to your entire business.
Read my article for more information: https://www.linkedin.com/pulse/visas-new-vamp-rules-cost-youheres-why-you-should-worried-soltesz-euhdf
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Mar 13, 2025
Hungary’s Cash Protection Law: Economic Stability or Financial Risk?
Hungary is amending its constitution to guarantee the right to pay in cash. While positioned as a move to protect consumer choice, it raises concerns for businesses, banks, and the country’s financial stability.
Cash increases operational costs, weakens financial transparency, and complicates compliance with global banking regulations. It could also impact Hungary’s trade relationships and currency stability.
Read my article for more: https://www.linkedin.com/pulse/hungarys-cash-protection-law-economic-stability-risk-viktoria-soltesz-6xzdf/?trackingId=V4g5T%2B2nsff8peqZv0pWbA%3D%3D
