Menu
Search

BSA Compliance Services Near Me 

Home > BSA Compliance Services Near Me 

BSA Compliance Services Near Me

For businesses that are identified as money service businesses, or MSBs, understanding the laws related to the BSA and AML is essential. At Bates Group, we provide BSA compliance services near me that are trustworthy and reliable. Our experienced professionals have spent years understanding the BSA/AML and providing consulting services to clients. To learn more about how the BSA impacts your business and what you need to do to maintain BSA compliance, reach out to our team of experts directly today.

What Is the BSA?

The BSA, or Bank Secrecy Act, is a federal law that establishes recordkeeping, reporting, and program requirements for money service businesses in the U.S. The purpose of the BSA is to assist U.S. agencies in detecting and preventing money laundering. As part of the BSA, businesses are required to develop anti-money laundering, or AML, compliance programs. Understanding the requirements of these programs and how to maintain compliance once a program has been implemented can be confusing for businesses, and working with third-party consultants is strongly recommended.

Developing a BSA Compliance Program for Your Business

When you choose Bates Group for BSA compliance services, we’ll work to create a BSA compliance program that is based on your needs while also maintaining regulatory compliance. We incorporate the following into each program that we design:

  • Risk assessment. The risk profile of each company is distinct. We’ll conduct a comprehensive assessment designed to determine risk based on your services, customers, and location; from there, we’ll develop a customized compliance program that is based on your risk profile. 
  • Policies and procedures. One of the most important components of BSA/AML compliance is developing policies and procedures for identifying and preventing anti-money laundering, as well as terrorist-financing activities. It’s essential that your business has clear policies and procedures in place for the various business departments and roles and that all internal best practices are communicated throughout the organization. 
  • Independent reviews. One compliance requirement that must be adhered to in order to satisfy federal regulations is that of independent reviews and third-party audits. The purpose of these audits is to test your compliance program for risk and to identify any possible compliance issues. We perform independent reviews for businesses, and can advise on when reviews are necessary. 
  • Compliance training. Another mandatory component of developing a BSA compliance program for your business is establishing compliance training programs. Training needs to occur on an ongoing basis, and all relevant staff needs to be trained. We can help your business design and implement a compliance training program. 

Learn More About BSA Compliance Services Near Me

For money service businesses, BSA compliance isn’t optional; it’s mandatory, and the failure to develop a compliance program can lead to repercussions, including fines and fees. To help your business meet its compliance requirements, our professionals are here to help. If you have been searching for BSA compliance services near me, call Bates Group directly. We provide compliance consulting services to businesses nationwide and can answer any questions you have today.

BSA/AML/OFAC
Development and enhancement of risk-based Compliance Programs
Consumer
Protection
Consumer Protection Reviews and Gap Analysis
State Licensing
Money Transmitter License Acquisition and Maintenance

contact us

Please fill out all fields marked with* and submit the following form to
request your consultation.

Contact Us Today

Please fill out all fields marked with * and submit the following form to request your consultation.

  • This field is for validation purposes and should be left unchanged.

Call Now Button