Review
AML Compliance Corporation is a consulting firm that specializes in services related to the Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) regulations. Their goal is to help financial services businesses reduce costs, enhance customer service, and mitigate risks. The company has a large client base, including Cashier's Checks, Money Transmitters, Money Exchange, and MSB Agents, which attests to their credibility and effectiveness.
The company is led by Tony Varona, who has an impressive 35 years of commercial experience in Latin America, and Jenny Varona, a BSA/AML Analyst. AML Compliance Corporation is well-positioned to educate and train businesses on anti-money laundering regulations and help them meet regulatory requirements. They offer customized services to ensure that each client receives solutions that address their specific needs.
AML Compliance Corporation is dedicated to staying current with the latest industry developments. They closely monitor updates to the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual released by federal and state regulators. These updates provide guidance to examiners for evaluating a financial institution's BSA/AML compliance program and its adherence to regulatory requirements. By incorporating these updates into their services, AML Compliance Corporation ensures that their clients are well-prepared for examinations and can confidently demonstrate their compliance.
The FAQ section on AML Compliance Corporation's website is a useful tool for understanding the purpose of the USA PATRIOT Act of 2001 and the Bank Secrecy Act. These acts are crucial in preventing, detecting, and prosecuting international money laundering and financing of terrorism. AML Compliance Corporation highlights the importance of minimum parameters for money laundering programs established by financial institutions, including internal policies, procedures and controls, risk assessment, compliance officer, ongoing employee training programs, and independent audit function. By adhering to these parameters, financial institutions can effectively combat money laundering and ensure regulatory compliance.
AML Compliance Corporation's website provides a detailed overview of their services, including a blog that covers recent news updates related to BSA/AML examination manuals, Suspicious Activity Reports (SAR), and money mule awareness. This shows their dedication to keeping their clients informed about the latest industry trends and regulatory changes.
Based in Miami, AML Compliance Corporation is ideally located to serve financial institutions, including Money Services Businesses (MSBs). Their team of CAMS and ACAMS associates specializes in BSA/AML training, compliance with regulations, independent review reporting, and daily maintenance and review of operations for MSBs. Their active participation in national, regional, and local associations and membership organizations, such as CAMS Certification, ACAMS Member, FISCA Member, and ACAMS South Florida Chapter, further demonstrates their commitment to staying connected and engaged within the industry.
In summary, AML Compliance Corporation provides a wide range of services to assist financial institutions in meeting BSA/AML compliance requirements. Their experienced leadership, tailored solutions, and dedication to staying updated with industry developments make them a trustworthy choice for businesses seeking to reduce costs, improve customer service, and mitigate risks.
Fast Facts
- AML Compliance Corporation boasts a significant amount of expertise in the financial services sector, with a combined experience of over 30 years.
- The team at AML Compliance Corporation is well-versed in the intricacies of the financial industry, leveraging their extensive knowledge to deliver top-notch services.
- AML Compliance Corporation is a trusted name in the industry, with its long-standing experience of 30 years in financial services.
- The corporation's extensive experience in the financial services sector sets it apart as a reliable and seasoned player in the industry.
Products and Services
- BSA/AML Training: AML Compliance Corporation provides comprehensive training on the Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) regulations, ensuring businesses understand and comply with these laws.
- Compliance with Regulations: The company helps businesses comply with relevant regulations, reducing the risk of penalties and enhancing customer service.
- Independent Review Reporting: AML Compliance Corporation conducts independent reviews of businesses' operations, identifying potential areas of non-compliance and providing actionable recommendations for improvement.
- Daily Maintenance and Review of Operations: The company offers daily maintenance and review services for Money Services Businesses (MSBs), helping them to consistently meet regulatory requirements and mitigate risks.
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