Understanding payments regulations for eCommerce can become an overwhelming burden to the new entrepreneur, but is there any value to hiring a compliance and regulation consultant?

Does your business accept payments directly? Do you have an AML officer? Are you performing your KYC checks? Are you wondering what those acronyms mean? Then the simple answer is yes, you do need a consultant.

Risk Screening

Consultants can help clients onboard and manage the risks associated with new customers and third parties. There is a level of screening and due diligence that is required to be performed based on the risks inherent in the industry, such as sanctions and government watch lists, reputation review, and checking of public records.

These assessments mean that businesses can take a risk-based approach towards a broad range of business needs, such as anti-money laundering (AML), know your customer (KYC), USA Patriot Act, Foreign Corrupt Practices Act (FCPA), and UK Bribery Act regulations, which help businesses identifying potential risk factors when considering new B2B relationships and investments.

Strategic Analysis

The financial services industry is subject to increasing regulatory scrutiny. Undertaking a strategic trend analyses to prepare for future challenges and opportunities, of which regulation plays a key part, means that eCommerce businesses are in a better position to face changes.

Developing, implementing, and managing a compliance and regulatory consulting program can help online businesses avoid the costly pitfalls of missing regulatory change. As eCommerce is developing, so are regulations in various regions, meaning that platforms that work across international borders need to monitor any compliance changes and implement solutions in a timely manner.

Many consultants are drawn from leading financial institutions, regulators, government authorities and advisory firms. Many of these experts understand how businesses can operate across borders to provide seamless service.


Experts help to guide your business success. Meeting the requirements of regulations is vital to your success. Getting expert advice is easy and could protect your business in the long-term. Understanding PCI compliance, cross-border regulations and online security takes a team.