MSBs
Empowering Money Services Businesses (MSBs) - Recognizing Your Unique Needs and Challenges
While MSBs, like other financial institutions, are obligated to uphold effective anti-money laundering (AML) programs, the game is different for you. Here’s where the unique compliance challenges kick in:
- Providing swift and straightforward access to transactions, from money orders to check cashing, currency exchange, and money transfer services.
- Dealing with transitory customers, making Know Your Customer (KYC) capture a bit of a challenge.
- Navigating with limited visibility into the movement of transactions.
What you need is an AML solution tailored specifically for MSBs—powerful, effective, and designed to meet your distinct needs.
Why ABM Global Compliance Stands Out for Compliance Professionals
A Comprehensive AML Solution
ABM Global Compliance offers an all-encompassing AML program seamlessly integrated into one platform, providing you with holistic compliance functionality—from the initial alert to the ultimate regulatory report.
Receive Daily Risk Updates
Stay ahead with ABM Global Compliance, receiving a thorough daily update on client risk. Identify customers whose risk scores have exceeded your institution’s risk threshold within the last 24 hours.
Tailored to MSB Requirements
Recognizing that the compliance needs of Money Services Businesses (MSBs) differ from other financial institutions, ABM Global Compliance has crafted a specialized AML platform to effortlessly meet your unique AML requirements.
Continuous Professional Support
From your initial discussion with our risk experts to the ongoing support provided by our dedicated account managers and support team, ABM Global Compliance is committed to fortifying and streamlining your AML program.
ABM Global Compliance's Integrated AML Solution Tailored for MSBs Provides:
Insightful Customer Analytics
In a competitive market, your MSB demands top-notch service. ABM Global Compliance enables real-time name screening during onboarding by partnering with SUMSUB, ensuring confidence in compliance without compromising customer service.
Efficient Risk Mitigation through Sanctions Screening
Our robust compliance solution uses SUMSUB and comply advantage platforms for screening, politically exposed persons (PEPs), sanctions watchlists, and internal lists to assess potential risks associated with an entity during onboarding and subsequent interactions.
Real-Time Detection of Suspicious Activity
Whether overseeing compliance for a single location or multiple retail outlets, ABM Global Compliance enables the real-time review of suspicious transactions, including structuring, smurfing, flipping, or any out-of-compliance activities.
Customizable Risk Scoring
Utilizing data from diverse sources, ABM Global Compliance allows you to create a risk scoring model aligned with your organization’s risk tolerance. Easily evaluate the risk of engaging with an individual and continuously update individual risk scores based on client activity and third-party data.
Swift Regulatory Reporting
ABM Global Compliance, simplifies your regulatory reporting process—swift, accurate, and seamlessly submitted across multiple jurisdictions.
