Residential Mortgage Lenders and Originators (RMLOs) are now required to establish an Anti-Money Laundering Program (AML Program) and file Suspicious Activity Reports (SARs), as FinCEN requires of other types of financial institutions. AML Experts has developed a cost effective compliance package for RMLOs which includes custom tailored AML policies and procedures and training.Â We also provide independent review services designed specifically for RMLOs.
The Financial Crimes Enforcement Network (FinCEN), as the agency primarily responsible for administering the Bank Secrecy Act, issued a Statement to reiterate expectations regarding banking institutions obligations under the Bank Secrecy Act for money services businesses.
The Financial Action Task Force (FATF) updated its list of jurisdictions with strategic AML/CFT deficiencies. These changes may affect U.S. financial institutions obligations and risk-based approaches with respect to relevant jurisdictions.
The Mercatus Center at George Mason University has published an excellent paper for regulators, policymakers and financial institutions trying to understand the potential AML compliance challenges of Bitcoins.
AML Experts can assist your institution with identifying qualified AML candidates for compliance positions.
Connie Fenchel will host a one-day intensive and highly practical Money Transmitter Compliance Certification Course.
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