Bank Secrecy Act & Anti-Money Laundering

U.S. and foreign banks are required to have a well documented risk assessment not only to optimize their own performance, but also to demonstrate their commitment to meeting current Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) standards.

The RSM firms in Latin America are experienced in working with financial institutions to help them with their compliance needs.

Financial institutions often request risk assessments and review of their internal controls to ensure that they will pass regulatory inspections. Other services requested include operational effectiveness assessment and reengineering, independent testing services, and technology services – all designed to meet BSA/AML standards.

The risk assessment methodologies employed have passed through numerous regulatory examinations, meeting or exceeding standards.

The needs of each institution are unique, and there is no one size fits all approach. The firms of RSM in Latin America can provide customized compliance services with the assistance and expertise of their US counterparts.