Imagine making a transfer and going about your day, only to return and find your account locked. This is a common experience for those unfamiliar with the rules of international payments.
Think of as many games as you can, football, basketball, chess, Monopoly; they all share one essential element: rules. Rules are a fundamental part of everything we do as humans; without them, chaos would ensue, and no one would enjoy the experience. This principle applies equally to international payments, where established rules safeguard every participant and ensure fairness in global business transactions.
International payments are financial transactions and the exchange of currencies between multiple parties, with each party residing in a different country or continent.
Understanding these rules can feel like a headache. But it doesn’t have to be. In this article, we break down the basics of international payment compliance in a way that’s simple, clear, and built for real businesspeople—such as exporters, agricultural traders, or manufacturers—not just fintech companies.
Compliance Simplified
Here, we break down the basic compliance concepts that can save your business time, money, and even penalties when processing international payments.
Know your customer (KYC)
Think of this as due diligence. Whether you're sending or receiving money, financial providers are required to verify identities to ensure that no one is using the system for shady dealings like fraud, money laundering, or terrorism financing.
As a business owner, this means you’ll need to have documents like business registration, ID, or invoices up to date at all times.
Anti-money laundering (AML) regulations AML rules require financial institutions to monitor payment behaviour. If, for example, your payment pattern suddenly changes or you’re receiving unusually large amounts from a new country, that could raise red flags, even if you’ve done nothing wrong.
Payment service providers may flag unusual transfer patterns, so it's important to keep them informed ahead of huge inflows or outflows. This helps prevent unnecessary account blocks triggered by suspicious activity.
Sanctions Screening You may not realise it, but not everyone in the world can legally do business with everyone else. Governments regularly release lists of sanctioned countries, companies, and individuals. Your payment provider must make sure your money isn't going to (or coming from) any of them.
This protects your business from accidentally violating international law.
Simple Ways to Stay Compliant
Let’s be honest: You didn’t get into your line of business to become a compliance expert. That’s why these practical steps exist to help you manage your international payments legally without getting buried in rules and paperwork.
Partner with Experts Who Know the Rules
Just like you'd use an export agent or a logistics partner, it's smart to work with a cross-border payment provider that understands compliance inside and out. A good provider handles the heavy lifting, verifying transactions, managing risks, and staying updated with global changes.
Ask Questions and Stay Informed
Regulations change all the time. A new tariff in the UK, a war in Europe, or new anti-fraud laws in the U.S. can all affect how quickly or easily your money moves.
You don’t need to become a policy analyst. But it's wise to ask your provider questions like:
Are there any recent rule changes I should be aware of?
Can you help me reduce delays on high-volume payments?
How do you protect my business account from compliance issues?
Train Your Team (Even If It's Just One Other Person)
If your assistant or finance manager handles payments, make sure they understand the basics too. Small errors like entering the wrong sort code or leaving out a document can hold up your funds for days or even weeks.
Training doesn’t need to be a seminar. A quick session with your provider or reviewing the dos and don’ts can make a big difference.
With Leatherback, you're not just moving money. You're working with a team that already understands what international regulators expect and has the tools to meet those expectations.
We offer:
Built-in KYC & AML checks
Real-time monitoring to reduce payment delays
Local & foreign currency support
Expert support teams across Nigeria, the UK, U.S., Canada, and more
Whether you’re paying, collecting, exporting or importing, we help you move money confidently and legally, so you can focus on your business growth, not paperwork.
Every business has its strengths. For some, it’s production. For others, it’s marketing. For you, it might be trade, farming, or logistics. Compliance? That’s our job.
When it comes to international payments, don't do it alone. Choose a provider that knows the rules and helps you play by them, smoothly, safely, and without stress.
