Regulatory Compliance


Industries We Serve

More than 50 years ago, CSI opened our doors with a mission to satisfy the technology needs of financial institutions. Today, we still work toward that goal, which includes serving the regulatory compliance needs of financial institutions and a variety of other industries.

CSI Regulatory Compliance solutions are:

  • Developed by experts who understand compliance and can provide solutions for adhering to financial regulations
  • Tailored to meet your institution’s regulatory compliance needs
  • Offered with technical support and ongoing access to regulatory experts

Compliance in the Banking Industry and Other Industries

These are few of the industries we help achieve compliance:

Banking Industry Compliance 

As a bank—big or small—you’re expected to meet the challenges of financial compliance with vast national and international regulations. At the same time, you must provide exemplary products and services to help your customers enhance and manage their own financial portfolios. Doing so while protecting customer information and privacy can be a balancing act.

CSI knows how to shield your business from fraud and other types of criminal activity, and we can provide the compliance solutions right for your institution, regardless of your asset size.

Casino and Gaming Regulations 

Stakes are high in the casino industry. Many casinos offer house accounts for their customers as a courtesy, categorizing casinos as a type of “financial institution” by the U.S. government.

As a result, casinos are expected to uphold the same compliance requirements as banks and credit unions to ensure compliance with regulations regarding such terrorism and anti-money laundering laws as enforced through OFAC compliance, the USA PATRIOT Act compliance, the BSA/AML compliance, Red Flags and more.

With increasing national security, scanning against the OFAC list allows casinos to avoid facilitating financial crime unknowingly.

CSI has been serving the compliance needs of the gaming industry since 1998. Our suite of compliance software solutions and compliance services:

  • Ensure your business meets casino and gaming industry regulations
  • Streamline your watch list screening process to maintain compliance with federal regulations
  • Provide cost-efficient solutions for improving your regulatory compliance

Credit Unions

Regulations, including OFAC compliance, USA PATRIOT Act compliance, GLBA compliance, Red Flags Rule, AML/BSA compliance, Reg CC and Regulation E compliance, sometimes make it challenging for credit unions to provide the personal service members are used to while still protecting their businesses and staying compliant.

CSI offers a winning combination of compliance software and solutions, so credit unions can continue providing high levels of service to their members while managing their compliance obligations.

Financial Services Companies

With the passing of the USA PATRIOT Act in 2001, all financial services organizations—including securities firms, investment management firms, money services businesses (MSBs) and credit card companies—had to significantly change their account verification and record-keeping practices.

Today, these organizations have the same regulations as any bank. U.S. financial services companies and their offshore offices are responsible for maintaining identifying information concerning all clients, investors and beneficiaries, as well as for knowing the source of their investment funds.

CSI’s suite of compliance software solutions and services offers your company the tools it needs to stay compliant with various government regulations.

Importers and Exporters

Importers and exporters are expected to understand and comply with International Trade Compliance, Import/Export Global Trade Compliance and Global Trade Management BIS compliance and OFAC regulations. Failure to comply may result in civil or criminal penalties and fines from $10,000 to more than $1 million.

Compliance programs for registered exporters and importers should be engaged in Restricted Party Screening against the following prohibited Restricted Party Lists:

  • Debarred List
  • Denied Persons List
  • Entity List
  • Nonproliferation Sanctions
  • SDN List
  • Unverified List

And trade businesses should understand and comply with all U.S. trade sanctions and operate within their bounds, including:

  • ITAR 126.1 Countries
  • U.S. Department of Commerce, Embargoed Countries
  • U.S. Department of Commerce: Embargoed Countries
  • U.S. Department of State, DDTC Country Policies and Embargoes
  • U.S. Department of the Treasury, Office of Foreign Assets Control (OFAC), Country Sanctions

The master list of SDNs contains more than 5,000 entries—variations on the names of individuals, companies, vessels and banks all over the globe. Importers and exporters should have the tools they need to ensure a compliant business.

CSI Regulatory Compliance has been serving the needs of the trade compliance industry since 1998, and our WatchDOG® solutions scan against all lists required by BIS, OFAC and many others.

Insurance Companies

Insurance companies and reinsurers must have a full understanding of the economic sanctions and embargo programs of the United States to protect their bottom lines from criminal and civil penalties. Violations may result in penalties and fines from $10,000 to more than $1 million.

OFAC has identified not only targeted enemy countries that are not to be traded with, but also numerous foreign agents and front organizations, as well as terrorist and narcotics traffickers, on their SDN list. If an insurance company identifies that it has engaged in business activity with a listed person or entity, they must block those policies and policy payments and report the activity within 10 days to OFAC.

Certain insurance products present a higher risk profile for money laundering activities and carry additional compliance burdens. You may be subject to all provisions of the USA PATRIOT Act, including anti-money laundering, customer identification programs and suspicious activity reporting.

CSI Regulatory Compliance can help your organization avoid government fines and increase your protection from fraud.

Jewelry and Precious Gem Industry

OFAC administers and enforces U.S. economic sanctions and embargoes to ensure that U.S.-based companies are not doing business with targeted foreign countries, terrorists, international narcotics traffickers or those involved in the proliferation of weapons of mass destruction.

CSI can help businesses in the jewelry and precious gem industry put an OFAC compliance program in place. Jewelry and precious gem dealers must also be aware of sanctioned countries and the OFAC SDN list to ensure that they are not buying from or selling their products to such countries that would be considered illegal and subject to penalty.

Non-Profit Organizations

Under Executive Order 13224, U.S. charities must demonstrate any foreign recipients do not appear on any government terrorist or money laundering lists, including the OFAC SDN list.

WatchDOG Elite Watch List Screening from CSI can help you ensure that funds provided by your charity are not distributed to terrorist organizations and that foreign recipient organizations are banked by a reputable institution not involved in money laundering or from an area that lacks adequate anti-money laundering controls.

Real Estate Compliance

As a professional or company involved in real estate transactions, your business is expected to maintain regulatory compliance requirements, such as the USA PATRIOT Act, the Money Laundering Control Act (MLCA) and Executive Order 13224.

CSI can help you stay compliant and avoid fines from these government regulations:

  • Money Laundering Control Act:
    The MLCA is a criminal statute that makes it illegal for any person or business that knows money or property is derived from an illegal activity to engage in a financial transaction involving that money or property. Penalties include jail terms and fines as high as $500,000 or twice the amount of the property involved.
    This government regulation imposes anti-money laundering requirements on loan and finance companies, persons involved in real estate closing and settlements, as well as insurance companies. Under the USA PATRIOT Act real estate companies are required to establish specific anti-money laundering programs and “know your customer” procedures to ensure the verification of their clients and maintain compliance in the industry.
  • Executive Order 13224:
    This law prohibits all U.S. individuals and businesses from engaging in any form of financial transaction with persons or entities designated as terrorists or their associates including those on the OFAC SDN list and other government watch lists. Criminal violations of OFAC regulations can result in corporate and personal fines up to $1 million, as well as prison terms.

Travel and Tourism Industry

Since the USA PATRIOT Act’s passage in 2001 following the terrorist attacks of 9/11, the Office of Foreign Assets Control (OFAC) has targeted many other industries, including the travel industry.

OFAC administers numerous sanctions programs, some of which include the:

  • Balkans
  • Cuba
  • Iraq
  • North Korea
  • Libya
  • Iran
  • Syria
  • Sudan
  • Burma (Myanmar)
  • Zimbabwe
  • Designated international terrorists and narcotics traffickers
  • Foreign terrorist organizations
  • Designated foreign persons who have engaged in activities related to the proliferation of weapons of mass destruction

Travel companies must check OFAC’s lists to ensure they aren’t doing business with a listed entity, or they will be subject to violations and fines. Depending on the program, civil and criminal penalties can include fines ranging from $50,000 to $10 million and imprisonment from 10 to 30 years for willful violations.

CSI Regulatory Compliance has been serving the needs of the travel industry since 1998, and we can help your business avoid government fines and increase your protection from fraud.