Maintaining anti-money laundering (AML) compliance is a critical part of your business’s operations. At Bates Group, our specialists provide consulting services for AML anti-money laundering in New York. For AML compliance services for money-service businesses in New York and nationwide, reach out to our team today.
Money laundering is the act of disguising or hiding financial assets that have been procured through illicit activity. When there is criminal money laundering, the financial assets appear to be legitimate without the detection of illegal activity.
The Bank Secrecy Act (BSA), which was originally passed in 1970 and has since been amended, established procedures for combating money laundering. Today, businesses are required to develop, implement, and maintain anti-money laundering programs in compliance with BSA regulations.
An anti-money laundering program must meet certain requirements in order to be in compliance with federal regulations. Our team will help you to develop and implement your AML program in compliance with all regulations. Required elements of an AML compliance program are as follows:
At Bates Group, we specialize in AML compliance and helping your money-service business meet requirements established in the Bank Secrecy Act. We have years of experience and a team of experts. We can support your business in designing, implementing, and maintaining an AML compliance program. We also offer third-party audit and independent testing services for firms. Further, we perform robust risk assessments that inform the design of compliance programs.
Failure to maintain AML compliance as a money-service business can result in severe consequences, including financial penalties. In order to design, develop, implement, and maintain a compliance program that satisfies all regulations, you need an AML compliance professional working for you. For services for AML Anti-Money Laundering in New York, reach out to the professionals at Bates Group today. We are available online or by phone to get set up with an initial consultation.
Please fill out all fields marked with* and submit the following form to
request your consultation.
Please fill out all fields marked with * and submit the following form to request your consultation.