NPPS have revolutionized the ability to make payments or transfer funds. Where cash transactions previously required face-to-face interaction and bank transfers involved transactions’ fees and an execution time in the past, NPPS allow participants to send money that will be instantly available to the beneficiary, reducing the need for trust in the relationship. As a result, the availability of convenient, inexpensive PPS has led to a decreasing use of cash, particularly in highly developed countries. Bringing transactions into the formal financial system has many advantages from the perspective of combating illicit finance. These transactions can flow through third parties that are in many cases subject to AML/CFT requirements. In most cases, the payments that involve such third parties include information on the payer and the payee and are permanently recorded by a financial institution, making it easier for law enforcement to track transactions. But the use of PPS for peer-to-peer payments also creates risk for financial institutions because it means that many smaller illicit transactions that once took place in cash are now being conducted via PPS, particularly NPPS.