The Compliance Management Portal just got a little better with some great, convenient new features. You can manage your compliance from anywhere on the web, be audit ready year-round and now enjoy… SPANISH TRAINING Training your staff can be a difficult and timely process and when English is their second language, it can be even […]
What is Required by the Bank? Usually the standard requirements to open an MSB account are: Business ownership documents Custom Anti-Money Laundering (AML) Program Federal and state licenses Permits Registrations What Things Work in Your Favor? Experience is what works most for a bank applicant. The more an applicant knows and the more prepared an […]
Compliance in accordance to anti-money laundering requirements and the Bank Secrecy Act (BSA). (Update: FinCEN added a fifth pillar in 2018. Read more) PILLAR #1 DESIGNATION OF A COMPLIANCE OFFICER This is the pillar that is most likely the easiest to grasp and the one that seems the most self-explanatory. However, it goes beyond simply […]
Our humble beginnings all started with a 17 year-old boy who bought a liquor store in the middle of downtown Oakland. William Souza quickly discovered that his most profitable service, at his liquor store, was check cashing. In the years to come, he focused on check cashing and invested in a few additional stores in […]
Carlos and his family have owned and operated their two check cashing locations, El Pasito and Panaderia Azteca, in Northern CA with no problems for 10 years until they received a letter from their bank. “We were very surprised when we received a letter from our bank telling us that our MSB account was getting […]
