Anti-Money Laundering

Anti-Money Laundering (AML) ServicesCompliance yellow

FINRA Rule 3011 requires that ALL firm, regardless of their business or size, develop and implement a written AML program that is reasonably designed to achieve and monitor compliance with the requirements of the Bank Secrecy Act.    Firms are also required arrange for independent testing of the AML program for compliance with the rule.

This test may be conducted by internal qualified personnel or a qualified outside party.  Unfortunately, most small firms can not satisfy the “independent” requirement of the rules.

That’s where B/D Solutions Consulting comes in.

Our AML professionals are members of the Association of Certified Anti-Money Laundering Specialists (ACAMS), and hold the CAMS (Certified Anti-Money Laundering Specialist) designation.

Our AML Audit examines the key components identified by the regulators as essential for an effective AML program including:

  • Written Supervisory Procedures and program documents related to AML including previous audit results and subsequent program updates
  • Firm risk and exposure with respect to size, business lines, customer base and geographic location
  • Customer identification and verification procedures including checking federal lists
  • Procedure and review activities for monitoring suspicious activity including provisions for confidentiality
  • Record keeping and retention procedures
  • Reliance relationships and supporting documents
  • Training program content and scope

The AML audit package includes:

  • Comprehensive report with point by point results for Senior Management review
  • Recommendations for enhancing the efficiency of your AML Program if warranted
  • Follow-up support to complete any updates recommended
  • Reporting and review procedures for Suspicious Activity including electronic systems

 

We look forward to planning your AML Program compliance testing today.

Contact us by email or by telephone at 877-423-4636.