Regulatory Compliance

Looking for a partner who understands compliance?

CSI is a trusted advisor in the regtech industry, providing regulatory compliance software and services to thousands of customers worldwide. Our solutions help keep your business compliant meeting today’s top federal regulations, including OFAC, USA PATRIOT Act, FinCEN, Gramm-Leach-Bliley Act, BSA AML and many more.

BSA AML Compliance

In 1970, Congress passed the Bank Secrecy Act (BSA)—also known as the Anti-Money Laundering (AML) law. Since then, financial institutions like yours have been required to cooperate with government agencies to detect and prevent money laundering. But keeping up with government regulations can feel like a full-time job.

Relieve the burden of BSA AML regulations and create a strong anti-money laundering compliance program with CSI’s BSA AML audit tool.

Who’s on the Hook for BSA AML Compliance?

The BSA requires traditional banks, credit unions and thrifts, as well as non-bank financial institutions, securities dealers and money services businesses, to perform anti-money laundering checks and to keep specific records of events that could signal the occurrence of money laundering.

The Financial Crimes Enforcement Network (FinCEN) is the administrator of the BSA. And over the years, the BSA has been strengthened through subsequent anti-money laundering laws. This includes parts of USA PATRIOT Act compliance, which focus on money laundering in the form of terrorist financing.

What Does a BSA AML Compliance Program Look Like?

Compliant financial institutions implement superior reporting and record-keeping capabilities to ensure the appropriate information is being collected for all transactions. BSA/AML regulations require financial institutions to:

  • Keep records of cash purchases of negotiable instruments
  • File reports of cash transactions above $10,000
  • Report suspicious activity that might signify money laundering, tax evasion or other criminal activities

Get a Comprehensive BSA AML Risk Assessment from CSI

Adherence to BSA AML compliance takes up valuable time and resources. Leverage CSI’s BSA AML software to help reduce the workload. Our BSA/AML audit tool provides:

  • A comprehensive evaluation focused on risk-based testing
  • Reviews of related documents, policies and procedures
  • An objective report upon completion noting any violations, findings or areas of weakness
  • A tailored corrective action plan to help strengthen and enhance your overall BSA and AML program

With its enhanced documentation features and record-keeping and retention component, CSI’s BSA/AML audit tool makes it easy for your institution to stay compliant. And if you need a more robust AML risk assessment, CSI will perform an on-site review of your institution’s BSA AML policy.

Be More Confident in Your AML Compliance

Do you have confidence in your BSA AML compliance program? Let us help get you there. Find out more about how CSI’s BSA/AML audit can help your financial institution assess risk and meet BSA AML regulations.

CSI is a GREAT service provider for every bank, but especially small community banks.

Josh Coffman
Hometown Bank, I.T. Security Officer

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Are you looking for the edge to outperform the competition? CSI is a full-service technology and compliance partner.

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