Maintaining compliance with government regulations at the local, state, and federal level is important for your business. At Bates Group, LLC, we offer the AML compliance services near me that your business is looking for. For money-service businesses (MSBs) throughout the country, having an AML compliance consultant on your side can help your business meet regulations and maintain compliance. Call Bates Group, LLC directly today to learn more.
AML stands for anti-money laundering, and an AML compliance program is a requirement under the Bank Secrecy Act (BSA). The purpose of an AML compliance program is to help money-service businesses, such as banks and other financial institutions, uncover suspicious financial activity, including money laundering and terrorist financing activities.
The BSA requires that MSBs maintain an AML compliance program; these programs are not optional. An effective AML compliance program must include certain elements in order to be in compliance. Some elements of a strong AML compliance program include:
Failure to maintain AML compliance can result in financial penalties for a business.
At Bates Group, LLC, we have years of experience designing, implementing, and maintaining AML compliance programs for our customers. These services include:
In addition to the above, we strongly encourage businesses to not only take time and effort into designing an AML compliance program, but also continually improving it or modifying it over time. We know that the regulatory landscape is often changing, and working with an AML compliance specialist is the best way to ensure that all gaps in your compliance program are addressed.
To learn more about Bates Group, LLC and the AML compliance services near me that we offer to money-service businesses throughout the United States, call our office directly. Remember, AML compliance is required under the BSA, and failure to meet regulations can have consequences. Reach out today to learn more.
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