AML Program Manual in English and Spanish
These are the customized and detailed policies and procedures, according to the MSB services provided by your company (and the principal providers it uses), with sections required by the industry for the designation of a compliance officer, employee training, and an independent external audit. The templates for these manuals are reviewed and updated several times a year and include the most recent laws and regulations, as well as generally accepted standards in the industry. Electronic documents in PDF and printed materials are provided to you.
BSA AML Independent Review
These independent audits are generally conducted once a year (as is generally accepted in the industry), but they can be performed more frequently (for example, every six months). Our assessment not only evaluates your program according to BSA requirements and industry standards, but also ensures that it complies with your own regulations. At the end of the analysis, we will inform you of any necessary legal modifications and our suggestions based on generally accepted industry practices. Finally, we will offer recommendations to optimize the management of your program. Our independent review includes a one-on-one meeting where we highlight the most important sections of the final report. You will receive an electronic file via email, as well as a printed version.
Transaction Monitoring and Analysis (Wire Transfers and/or Checks)
A. Depending on the volume of transactions, we tailor our recommendations to the needs your business company. Whether you need training or basic advice to get started on your own, or a printed report and monthly analysis, we offer you a solution. The goal is to organize your transactional data in a way that allows for the detection of potential suspicious behaviors and document them in a monthly report and in your SARs.
B. We also offer training or assistance to complete and submit SARs (once the monthly monitoring and analysis is done).
Pre & Post IRS BSA Title 31 Review Assistance
The IRS will inform you about the necessary documentation before your company's review date: Whether it is organizing the documentation, help with your anti-money laundering (AML) manual, an independent review, or transaction monitoring, we will provide the necessary assistance. Thanks to our hands-on experience helping our clients, we understand the approach of these audits and where companies are often subject to greater scrutiny.
MSB Bank Paperwork Preparation
Whether you have just received a letter from your local bank or your accounts are already frozen, we have extensive experience ensuring that your business meets the specific requirements of your bank for MSB. Some banks require updated anti-money laundering manuals, independent reviews from the previous year, risk assessments, or proof of transaction monitoring, etc.
Application for Check Cashing License
These requests are made on a case-by-case basis. The cost depends on your state, and on the availability and ease of access to the necessary documentation to submit in a timely manner. If your business charges a check-cashing fee, most states require a check-cashing license (even if you deposit the checks into bank accounts held by your principal MSB providers).
