Maximize Compliance. Mimimize Cost.
Remote, off-site compliance solutions
Reduce compliance costs by eliminating the on-site component.
We have learned to reduce compliance costs by eliminating the on-site component. In most cases, it is not necessary for our compliance staff to be in the bank to perform the regulatory reviews and audits.
How do the cost savings work out? A typical BSA/AML review for a small institution would cost in the high four figures for an-site review/audit — and we have even seen some low five figure costs. In our case, the cost for a BSA/AML audit/review, including the required update to policy and procedures, for a small institution would be $4,950, for a small bank. The cost for a mid-size bank, for the same work, would be $5,950. If we are retained to do the same work in succeeding years, there is a discount of 25%. (You can see all our fees and charges in the “About Us” menu.)
Special Note about BSA Audits/Reviews
We are very sensitive to the need to keep BSA federal reports confidential and secure. For that reason, we would never ask your bank to email or otherwise send us those reports. (This excludes management reports generated by the bank’s MIS and/or surveillance software.) We can discuss those reports or, in some cases, we may wish to visit your institution; in other cases, we may ask for a GTM to make certain observations; and, regrettably in some cases, we may not be able to perform that portion of the BSA review.
Other important things to know about us
It is important to know that we don’t require up-front payments or retainers. We only send an invoice after the work is done, when you are satisfied. When the work is done, and you are satisfied, you can pay us by check, ACH or credit card.
We are available, 24/7, by email, text, toll-free voice and toll free fax.
We provide signed non-disclosure and non-compete agreements before we go to work. We minimize or eliminate our exposure to your customer data. We provide secure email and uploads as required.
Let's get the conversation started.
Call 800-521-0236 or