Sample AML Policy

Free Sample AML Policy

Many have reached out in response to my YouTube video in which I offer a sample AML policy. You can find said document below. While the document is Bank Secrecy Act compliant and applicable to literally all financial institutions that have an obligation under the BSA, not that some amendment and tailoring of the document would be required based on specific business activities.

Filing SARs in the United States

Suspicious Activity Reports

A Suspicious Activity Report is a document that financial institutions and certain other entities are required to file with FinCEN. The purpose of SARs is to report any suspicious transactions or activities that might indicate money laundering, fraud, or other financial crimes.

FinCEN Crypto Reporting Requirements for MSBs

money service business reporting requirements

Crypto Money Service Businesses The Financial Crimes Enforcement Network (FinCEN) in the United States imposes specific reporting requirements on money service businesses (MSBs) that engage in transactions involving cryptocurrency. These requirements were developed to prevent money laundering, terrorist financing, and other illicit activities. There are two primary reporting functions. Currency Transaction Reports A Currency Transaction … Read more

Money Service Business Checklist

Money Service Business Checklist

In today’s regulated environment, registration as a Money Service Business with U.S. FinCEN is an absolute must (and likely legal requirement) for the following cryptocurrency industry players: Peer to peer Bitcoin and other cryptocurrency traders on sites like LocalBitcoins.com and Paxful.com; Over-The-Counter and “institution” Bitcoin and other cryptocurrency traders; Cryptocurrency custodians and other service providers; … Read more