Checklist: Compliance with Anti-Money Laundering Regulations
Violations and penalties for lack of proper anti-money laundering (AML) controls create significant problems for businesses regulated by the Financial Industry Regulatory Authority (FINRA). FINRA Rule 3310 requires that members develop and implement a written AML program that complies with the requirements of the Bank Secrecy Act (BSA).
Consequences of non-compliance with AML requirements can be severe, from multi-million-dollar fines to potential legal action and damage to a company’s public image.
In this checklist, we share guidelines for reviewing and revising your AML programs to get ahead of potential issues and keep your company compliant.