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pspangels.com PSP Angels is an independent payment consultancy firm. We understand the payment market and have a hug... see more
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When the Lights Went Out: The Fragile Illusion of a Cashless Society
Yesterday Spain, Portugal and some parts of France was hit by a massive power cut. We had no phone lines, no internet, no payments, and no information. People panicked because they had no way to pay, no way to call for help, and no idea what was happening.
Our good old friend, cash, came back to save the day.
Supermarkets took advantage, raising prices and "forgetting" to declare and tax some extra income, while the whole idea of a cashless society was shown to be dangerously fragile.
The entire idea of a safe cashless society collapsed.
Read my article for more https://www.linkedin.com/pulse/when-lights-went-out-fragile-illusion-cashless-society-soltesz-d9pmf Apr 29, 2025
Yesterday Spain, Portugal and some parts of France was hit by a massive power cut. We had no phone lines, no internet, no payments, and no information. People panicked because they had no way to pay, no way to call for help, and no idea what was happening.
Our good old friend, cash, came back to save the day.
Supermarkets took advantage, raising prices and "forgetting" to declare and tax some extra income, while the whole idea of a cashless society was shown to be dangerously fragile.
The entire idea of a safe cashless society collapsed.
Read my article for more https://www.linkedin.com/pulse/when-lights-went-out-fragile-illusion-cashless-society-soltesz-d9pmf Apr 29, 2025
Why VCs Should Stop Wiring Money Upfront – And How Banks Can Win a Lot of New Business With This New Setup
Startups are sitting on investor money they do not need yet, which is not only risky but also costly. It is not only triggering banking red flags but also costing VCs millions in negative carry.
One freeze, one payment delay, or one compliance hurdle, and the entire business can collapse. However, in this setup, there is a huge opportunity for banks and PSPs to attract business with what everyone needs, and it is also very easy to implement.
The deferred funding model is not only better for both VCs and startups but also for the banks and payment providers. Founders and funds are not just looking for a place to park money but they want a trusted financial partner that is flexible, transparent, and responsive.
Whoever offers a real solution can win clients easily.
Read my article for more information: https://www.linkedin.com/pulse/why-vcs-should-stop-wiring-money-upfront-how-banks-can-soltesz-objqc Apr 23, 2025
Startups are sitting on investor money they do not need yet, which is not only risky but also costly. It is not only triggering banking red flags but also costing VCs millions in negative carry.
One freeze, one payment delay, or one compliance hurdle, and the entire business can collapse. However, in this setup, there is a huge opportunity for banks and PSPs to attract business with what everyone needs, and it is also very easy to implement.
The deferred funding model is not only better for both VCs and startups but also for the banks and payment providers. Founders and funds are not just looking for a place to park money but they want a trusted financial partner that is flexible, transparent, and responsive.
Whoever offers a real solution can win clients easily.
Read my article for more information: https://www.linkedin.com/pulse/why-vcs-should-stop-wiring-money-upfront-how-banks-can-soltesz-objqc Apr 23, 2025
The 2025 Banking Crisis: The Warning Signs Are Clear
Everyone still think that someone will step in before things collapse.
But the tools we used to delay the last crisis no longer work, and the safety nets around our funds are now quietly removed.
The recent move by the Bank of England to stop publishing bailout data is just one example of a broader change when we hide facts to pretend everything is OK.
But while asset prices are floating on empty promises and gold is rising because no one trusts the system anymore, the most damage will not come from the failure but from the delayed responses.
Read my article for more information: https://www.linkedin.com/pulse/2025-banking-crisis-warning-signs-clear-viktoria-soltesz-y3erf/
Apr 21, 2025
Everyone still think that someone will step in before things collapse.
But the tools we used to delay the last crisis no longer work, and the safety nets around our funds are now quietly removed.
The recent move by the Bank of England to stop publishing bailout data is just one example of a broader change when we hide facts to pretend everything is OK.
But while asset prices are floating on empty promises and gold is rising because no one trusts the system anymore, the most damage will not come from the failure but from the delayed responses.
Read my article for more information: https://www.linkedin.com/pulse/2025-banking-crisis-warning-signs-clear-viktoria-soltesz-y3erf/
Apr 21, 2025
How Payment Flows and Direct Sourcing Are Reshaping International Trade
Your payment setup might be the silent reason your business fails. While you focus on tariffs, competitors are bypassing you completely—collecting faster, settling cheaper, and reaching your customers directly. One change in regulation or a blocked payment flow, and your funds are frozen, refunds pile up, and clients disappear. Most companies won’t realise it until it’s too late.
Read the article for more information here: https://www.linkedin.com/pulse/how-payment-flows-direct-sourcing-reshaping-trade-viktoria-soltesz-kegte/ Apr 16, 2025
Your payment setup might be the silent reason your business fails. While you focus on tariffs, competitors are bypassing you completely—collecting faster, settling cheaper, and reaching your customers directly. One change in regulation or a blocked payment flow, and your funds are frozen, refunds pile up, and clients disappear. Most companies won’t realise it until it’s too late.
Read the article for more information here: https://www.linkedin.com/pulse/how-payment-flows-direct-sourcing-reshaping-trade-viktoria-soltesz-kegte/ Apr 16, 2025
Banks are asking for the power to freeze any account without waiting for a court or police order.
Is it good? Or harmful?
The goal is to act faster than cybercriminals. But the risk of making a mistake is too big to ignore.
One wrong trigger can block a company’s access to its own money, delay salaries, and ruin client trust in a single day. And once an account is frozen based on suspicion, the damage is done, even if it was a false alarm.
Read my article for more information: https://www.linkedin.com/pulse/banks-demand-unlimited-power-freeze-accounts-without-any-soltesz-msszc/?trackingId=Rl9aIf7rIgQVuzwEUYcOeQ%3D%3D
Apr 14, 2025
Is it good? Or harmful?
The goal is to act faster than cybercriminals. But the risk of making a mistake is too big to ignore.
One wrong trigger can block a company’s access to its own money, delay salaries, and ruin client trust in a single day. And once an account is frozen based on suspicion, the damage is done, even if it was a false alarm.
Read my article for more information: https://www.linkedin.com/pulse/banks-demand-unlimited-power-freeze-accounts-without-any-soltesz-msszc/?trackingId=Rl9aIf7rIgQVuzwEUYcOeQ%3D%3D
Apr 14, 2025
AI can now create fake passports that pass KYC checks.
It only takes minutes, and yes, your company is in danger, too!
A Polish researcher just proved to us, just how easy it is to trick today’s onboarding systems using synthetically generated documents.
This isn’t a future threat - it’s already happening.
If your compliance setup relies on static photo checks and third-party tools, you might be exposed and risk some serious penalties, too.
Read the full article to understand what this means for your business, and why every company should treat payments and banking as a critical risk, not an afterthought: https://www.linkedin.com/pulse/ai-generated-passport-passed-kyc-check-real-world-failure-soltesz-g7gqf/ Apr 11, 2025
It only takes minutes, and yes, your company is in danger, too!
A Polish researcher just proved to us, just how easy it is to trick today’s onboarding systems using synthetically generated documents.
This isn’t a future threat - it’s already happening.
If your compliance setup relies on static photo checks and third-party tools, you might be exposed and risk some serious penalties, too.
Read the full article to understand what this means for your business, and why every company should treat payments and banking as a critical risk, not an afterthought: https://www.linkedin.com/pulse/ai-generated-passport-passed-kyc-check-real-world-failure-soltesz-g7gqf/ Apr 11, 2025
You’re playing by the rules while others get a free pass.
When banks and businesses are investing millions in AML and compliance, some governments are pushing for more cash and less transparency—making it easier to move untraceable money and hide ownership.
This is a dangerous game.
But you can also benefit from it - if you know how to play this game.
Read this article for more information: https://www.linkedin.com/pulse/one-step-forward-two-steps-back-the-global-between-cash-soltesz-i7zrf Apr 4, 2025
When banks and businesses are investing millions in AML and compliance, some governments are pushing for more cash and less transparency—making it easier to move untraceable money and hide ownership.
This is a dangerous game.
But you can also benefit from it - if you know how to play this game.
Read this article for more information: https://www.linkedin.com/pulse/one-step-forward-two-steps-back-the-global-between-cash-soltesz-i7zrf Apr 4, 2025
Have you heard about Rose Island?
A fake country with fake money which is built on dreams, not structure.
I keep hearing about new coins - all of them are shiny, hyped, and useless from day one.
No structure. No control. No purpose. Just a symbol pretending to be money.
Well, the history repeats itself - only this time, it’s digital.
Let’s learn from it before millions are wasted on the same mistake online.
Read my article below for the full story: https://www.linkedin.com/pulse/coin-without-purpose-why-money-needs-real-structure-viktoria-soltesz-fmhef Apr 2, 2025
A fake country with fake money which is built on dreams, not structure.
I keep hearing about new coins - all of them are shiny, hyped, and useless from day one.
No structure. No control. No purpose. Just a symbol pretending to be money.
Well, the history repeats itself - only this time, it’s digital.
Let’s learn from it before millions are wasted on the same mistake online.
Read my article below for the full story: https://www.linkedin.com/pulse/coin-without-purpose-why-money-needs-real-structure-viktoria-soltesz-fmhef Apr 2, 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
Mar 31, 2025
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
Mar 31, 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 Mar 26, 2025
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 Mar 26, 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/ Mar 22, 2025
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/ Mar 22, 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 Mar 20, 2025
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 Mar 20, 2025
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