Metaprise (a subsidiary of Passfeed Financial LLC) is pleased to announce that as of 09/09/2021 it has upgraded its status as an MSB under the BSA Fincen Network.

The MSB registration encompasses the documentation of any cash purchases of negotiable instruments, reports of any transactions for up to or over $10,000 and reporting anything that suggests a form of suspicious activity.

In keeping with US Treasury standards, this also includes a partnership with Acuant, a nationally recognized Underwriting Service and Trusted Identity Platform. AML/KYC (Anti-Money Laundering/Know Your Client), Identity Verification, SAR form 111 and OFAC verification are just a few of the ways that Metaprise utilizes Acuants industry leading compliance ecosystem.

As just mentioned, the OFAC (Office of Foreign Access and Control) provided by the US Department of the Treasury is an integral component of Metaprises’s underwriting process, enhanced by Acuant’s software. As part of its enforcement efforts, OFAC publishes a list of individuals and companies owned or controlled by, or acting for or on behalf of, targeted countries. A quick cross-reference of new clients with the OFAC lists ensures Metaprises’s strict compliance with all underwriting guidelines.

As an established MSB, Metaprise is also expected to be in compliance with the requirement of filing the SAR Form 111 — Suspicious Activity Report, within 30 days of detection. This voluntary filing is a key component of any US Bank or financial institution, and as such Metaprise’s compliance team monitors and examines daily, weekly and monthly transaction flow across all of its client accounts.

Richard Wang, CEO Metaprise, recently stated during an interview: “For many businesses, operating a cross-border business is expensive, time-consuming and often risky. This is exactly why we started Metaprise. From day one, we set out with a purpose to help businesses of all sizes grow in a safe, secure manner. This safety encompasses our adherence to nationally recognized Bank protocols and standards.”

Metaprise — Commerce Online Bank, helps multi-national and local companies to accept & send payments in any currency all around the world with no hidden fees and fair exchange rates.

https://metaprise.online/pay-getpaid.html