MSB

The Importance of Training
The Importance of an Effective Training Program
By: Julie on May 11, 2020
By now, everyone in the financial services industry should be familiar with what an Anti-Money Laundering (AML) Compliance Program is and its purpose. There is one very important aspect of an AML compliance program that is often overlooked, which is implementing an ongoing training program for any and all employees conducting money service transactions in your business. Having a thorough… Read More
COVID-19 Relief
CARES Act Support Amid COVID-19 Pandemic
By: Julie on April 1, 2020
Relief for Financial Services Centers & Employees On March 27, 2020, President Trump signed a $2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act relief bill that will provide support to those that are experiencing hardships due to COVID-19. The CARES Act includes: Direct payments ($1,200/individuals, $2,400/family, $500/child) to individuals at specified income level thresholds Expansion of unemployment insurance… Read More
Transaction Monitoring & Analysis Tools
Don’t Overlook Transaction Monitoring: Early Detection & Correction Parameters Allow for Effective Analysis
By: Julie on March 23, 2020
As a part of the independent review process and ongoing compliance requirements, transaction monitoring is something that is often overlooked by Money Services Businesses (MSBs). The fundamentals of transaction monitoring are implemented systems to identify and protect institutions from transactions that are not compliant with The Bank Secrecy Act (BSA), Anti-Money Laundering (AML) and Office of Foreign Assets Control (OFAC).… Read More
The Ultimate Regulatory Compliance Checklist – 2020
The Ultimate Regulatory Compliance Checklist – 2020
By: Julie on March 2, 2020
An essential part of maintaining your banking relationship is to amend your BSA/AML/OFAC Compliance Program as your business evolves. To help you stay on top of these changes, we have put together a list that will keep your policies and procedures up-to-date for 2020.  This comprehensive list was constructed by our team of CAMS professionals. They work closely with bank… Read More
Annual Compliance Checklist
The Ultimate Regulatory Compliance Checklist – 2019
By: Julie on January 14, 2019
The New Year is here and it is time to start off on the right foot by updating your BSA/AML/OFAC Compliance Program. To help with that, we wanted to share The Ultimate Regulatory Compliance Checklist to keep your policies and procedures up-to-date. Amending your BSA/AML/OFAC Compliance Program is an essential part of maintaining your banking relationship and keeping your audits… Read More
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