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Apr 12th, 2022

What Are the Penalties for BSA Noncompliance? 

The Bank Secrecy Act (BSA) establishes program, recording, and reporting requirements for banks and money-handling institutions. Developed to mitigate money laundering and terrorist financing, BSA…

Mar 29th, 2022

Common Types of AML Breaches 

For money-service businesses throughout the country, maintaining AML compliance is a critical part of business operations and meeting federal regulations. At Bates Group, we know…

Mar 23rd, 2022

Dispelling Five Common Misconceptions About Cryptocurrencies

By Brandi B. Reynolds, CAMS-Audit, Managing Director and Paul Nelson, Consulting Expert As cryptocurrency becomes more mainstream, many people are looking to learn more, including bankers and…

Mar 21st, 2022

Will a Current Lawsuit Redefine Cryptocurrency as Property for Tax Purposes?

As Featured In: Bates Group A determined litigant is hoping to define, or redefine, a type of cryptocurrency through a lawsuit against the Internal Revenue…

Mar 3rd, 2022

Navigating the Money Transmitter Licensing Process

Determining if you are a money transmitter and then navigating the licensing requirements can be a daunting task. This guide is meant to ease the…

Feb 22nd, 2022

What Is the Purpose of Consumer Protection Laws? 

Consumer protection laws are designed to protect consumers from deceptive practices and products. These laws help to keep sellers honest and to protect purchases of…

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