Regulatory Alerts2026-06-22
Added · Updated
Multi-State Enforcement Action against Ramad Pay, Inc. for AML/CFT Violations
The Texas Department of Banking and the Colorado Division of Banking issued a joint enforcement action against Ramad Pay, Inc. for deficiencies in its anti-money laundering and countering the financing of terrorism compliance program. Under a Consent Order effective June 18, 2026, the company agreed to pay a penalty, hire an independent third party to verify corrective actions, and submit quarterly progress reports for up to two years. Ramad Pay settled the matter without admitting violations of state or federal laws or regulations.
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