At Bates Group, we offer AML consulting in Washington, D.C. for money service businesses. Ongoing compliance with Bank Secrecy Act (BSA) and anti-money laundering (AML) regulations is required for banks and money service businesses throughout the country, but designing and implementing compliance programs can be complex and time-consuming. When you hire our AML consulting firm, we can provide guidance for program development, enhancements, reviews, and more. Reach out to us today to learn more.
AML compliance regulations stem from the Bank Secrecy Act, or BSA. Passed in 1970, the BSA is designed to help U.S. government agencies in detecting and preventing money laundering. Today, money service businesses and banks are required to take robust action to detect, prevent, and report money laundering and terrorist-financing activities. Compliance is mandatory and penalties for non-compliance can be steep.
An AML compliance program must have five primary components in order to meet compliance regulations. These include:
Our firm provides AML consulting services for money service businesses in Washington, D.C. Our consulting services include:
Failing to meet AML compliance regulations is not an option for your institution. At Bates Group, we understand the importance and complexity of AML compliance and can start developing custom solutions for your institution today. For AML consulting in Washington, D.C., call us directly today or send us a message online.
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