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Do I have to hire staff for my money transfer business?

The question in full

Do I have to hire staff for my money transfer business? It depends entirely on your licensing model. If you are a 'Lean MTO' using an Authorized Delegate (AD) or RaaS model, you can operate with a skeleton crew. However, if you hold your own Money Transmitter License (MTL), you are legally required to appoint a dedicated Anti-Money Laundering (AML) Compliance Officer.

Answer

Only for sales & marketing and level one customer support. Any additional staff you may hire would depend on what kind of a relationship you are maintaining with the solution provider, and whether you would be developing the app/website using the API.

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Faisal KhanAnswered 07/Aug/2026
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Page Last Updated: 07/Aug/2026 (5158529)