- Mon - Sat: 9 am - 7 pm
Program Setup
The number of enforcements against MSBs has increased drastically over the past five years as regulators get tough on audits of SMBs providing alternative financial services. That’s why My MSB Compliance offers a holistic approach to compliance programs for MSBs. The program offers companies who are growing or are new to alternative financial services a comprehensive and affordable way to maintain healthy banking relationships, keep overhead low and ensure compliance within FinCEN and FFIEC guidelines.
COMPLIANCE PROGRAM SETUP PACKAGE
By having a documented compliance program in place, you demonstrate commitment and compliance with the Bank Secrecy Act and state regulations. My MSB Compliance can get your compliance program set up quickly. Package includes:
- Perform a risk assesment
- Develop and revise a tailored Anti-Money Laundering program and policy with you
- Review and revise a tailored training deck for your employees
Compliance Program Setup Package
- Money Transfer
- Risk Assessment
- AML Compliance Program Policy Development
- Employee AML Training deck
- Compliance Officer Job Description
Additional Product Add-ons:
- Check cashing
- Money Order
- Ancillary Services (bill pay & top-up)
WHO NEEDS COMPLIANCE
PROGRAM SETUP?
- Agents who are new to financial services
- Agents who have recently lost banking or MSB relationship due to inadequate Compliance Programs
- Agents who have a program but have received recommendations for improvement
Frequently Asked Questions
We support money transfer, check cashing, money order, bill payments and top-ups
You should file a CTR If a customer conducts more than $10K in cash activity (cash activity includes: domestic and international remittances/money transfers, purchasing money orders and bill pay) in a calendar day.
Generally a SAR should be filed if you identify suspicious activity which can include customer behaviors, transaction patterns, unusual send amounts or forged IDs used with a transaction.
Contact our Customer Success team or one of our AML Specialists.
Please contact us using the information below.
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855.702.1521
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