Washington D.C. businesses that transmit or convert money are required to adhere to regulations set forth by the Bank Secrecy Act (BSA), including anti-money laundering regulations. At Bates Group, we specialize in AML Compliance in Washington D.C. and can help your business design, implement, monitor, and maintain its AML compliance program. To learn more about our AML compliance consultants and how to get started with our services, reach out to us directly.
The Bank Secrecy Act refers to federal legislation that requires financial institutions and money-services businesses (MSBs) to assist the U.S. government in preventing and detecting acts of money laundering. AML, or anti-money laundering, compliance requires businesses to adhere to certain requirements designed to prevent, detect, and report money laundering and terrorist-financing activities. AML compliance is required for all MSBs in Washington D.C. and nationwide.
An AML program that is compliant with federal regulations has several key elements. At Bates Group, we’ll help your firm design and implement an AML compliance program that satisfies all requirements and meets the level of risk your business faces. Key components of an AML compliance program include:
If a program fails to do any of the above, then it will not be compliant with federal regulations and the firm could face consequences as such, including financial penalties.
At Bates Group, we are passionate about helping MSBs understand their legal obligations in a changing regulatory landscape. When you hire our consultants, we’ll handle all elements of your AML compliance program based on your unique needs, risks, and current position. Services that we provide include:
If your business has a specific need related to AML compliance that you don’t see listed above, reach out to us directly to learn more about our services and whether we can help.
Working with a professional who is experienced in Bank Secrecy Act regulations and the specifications of an AML compliance program is important for your financial institution. To learn more about AML compliance in Washington D.C. and the services provided by Bates Group, reach out to our team today by phone or online. We are available for 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.