AML Consulting in New York

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AML Consulting in New York

Every financial enterprise should know that the New York Department of Financial Services (DFS) takes money laundering extremely seriously. Not only does DFS take action against potential money-laundering operations, but these authorities also investigate and identify when financial companies have inadequate anti-money laundering systems in place. Noncompliance with anti-money laundering laws, such as the Bank Secrecy Act (BSA) and New York state laws, can result in significant sanctions and other penalties for companies. 

Company leaders should not be spending their time designing, managing, or overseeing complex anti-money laundering monitoring systems and ensuring compliance with the law. You have too much responsibility already to take the extensive time required to ensure full AML/BSA compliance. Instead, you should learn the many ways that AML consulting in New York can help.

At Bates Group LLC, we handle AML programs for financial companies of all sizes, so please do not hesitate to reach out for more information today for help with a New York Bit License. 

Who We Can Help

Our team of skilled consultants assists many types of banking and non-banking financial institutions. Some of our clients include the following:

  • Short-term lenders
  • Pre-paid Card Providers
  • Money Transmitters
  • Payment Processors
  • Dealers and Traders of Digital Currency
  • Cryptocurrency Exchanges
  • Banking Financial Institutions
  • Non-banking Financial Institutions
  • Trust Companies
  • Foreign Currency Exchange

If anti-money laundering laws apply to your business, we can assist you with finding effective and efficient ways to ensure full compliance.

How We Work

AML strategies can look different from business to business. Our team takes the time necessary to fully understand the details of your business model and identify the specific expectations for your business under AML regulations. We then begin to advise you on anti-money laundering strategies that will work best for your specific operations. 

Some of our consulting services include:

  • Development of AML/BSA/OFAC programs
  • Development of AML policies and procedures
  • Training
  • Risk management oversight
  • Advisory services
  • Acquisition and maintenance of Money Transmitter Licenses
  • Consumer protection compliance

We help to develop effective AML monitoring systems, and then we provide ongoing guidance for all AML/BSA compliance, including training for employees and company leaders. If you do run into issues with OFAC, we can provide guidance through that process. 

Our Team

Our team at Bates Group LLC, provides full-service AML consulting services that you can trust. Our consultants are certified in CAMS, CAMS-Audit, CFRM, and CRCM. Some of our consultants are former regulators who have a regulatory perspective to prevent AML issues whenever possible. You can rest assured that your advisor will be highly experienced in all aspects of AML monitoring, detection, and prevention, do you can prevent unnecessary sanctions from the State of New York or OFAC.

Learn More About AML Consulting in New York

At Bates Group LLC, we know that financial business leaders often do not have the time or expertise to design and implement an effective and compliant AML system. This is where we come in, as we can assess the specific needs of your organization and design an AML strategy that works for you. Contact us to discuss how we might help your company.

AML & Compliance Services
Development and enhancement of risk-based Compliance Programs
AML & Consumer
Protection Reviews
Consumer Protection Reviews
State Licensing
Money Transmitter License Acquisition and Maintenance
Other Services
Additional Customized Support

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