Compliance Solutions for Check Cashers

Whether you are starting a new business or bringing your existing one up-to-date, USASI offers a number of compliance services for check cashers.

Compliance Programs

We can work with you to develop, implement, and/or maintain a customized compliance program for your company to satisfy regulatory requirements. We provide a comprehensive program that addresses not just anti-money laundering, but all Federal and/or State compliance matters, including protection of consumer privacy, Office of Foreign Assets Control requirements, Red Flag Rules and others.

Creating a Compliance Manual

Neither auditors nor banks will accept anything less than a thorough, tailored manual containing detailed procedures for conducting Bank Secrecy Act (BSA) related transactions, training employees, providing for independent reviews, monitoring the compliance program, and retaining BSA related documentation. Let USASI  help get your compliance program on the right track

Training Employees

Whether we’ve helped you establish your program, or you took that initial step yourself, we can help train your employees. Our fully-tailored Employee Compliance Handbook contains not only background information on the Bank Secrecy Act, USA PATRIOT Act, Money Laundering Control Act, and other anti-money laundering laws and regulations, but also, and more importantly, how your employees are going to help the company remain in compliance with those laws and regulations. We can perform the training for you, or help you create your own in-house training program; either way, you will be sure to have an effective, affordable, customized solution to meet your training needs. Although not required by law, banks, government auditors, and money transfer companies typically request that training be conducted annually.

Auditing a Compliance Program

Independent reviews must be conducted by an individual who is not involved with the day-to-day operations of the compliance program, and who is knowledgeable about anti-money laundering regulations. USASI can provide a thorough, objective review of your compliance program. Unlike government auditors, we highlight both strengths and weaknesses in our follow-up report, and provide recommendations for improvement. If you have qualified internal personnel to perform such audits, we can provide training on how to conduct them, or even create audit documentation anyone can use to complete a review of your program. Although not required by law, banks, government auditors, and money transfer companies typically request that independent reviews be conducted annually.

Monitoring a Compliance Program

Do you want to get rid of your compliance headaches?  Outsource the back-room monitoring of the program to USASI.  We take care of all of your compliance issues, including filing CTRs, investigating suspicious activity and filing SARs, and monitoring transaction activity, all for a modest monthly fee.

These services include the following:

  • filing Currency Transaction Reports (CTRs)
  • filing Suspicious Activity Reports (SARs)
  • [re]filing Money Services Business (MSB) registrations
  • monitoring money order activity
  • monitoring money transfer activity
  • monitoring check-cashing activity
  • revising compliance manuals
  • assisting with Internal Revenue Service (IRS) correspondence
  • assisting with money transfer company correspondence
  • assisting with money order company correspondence
  • assisting with bank correspondence
  • providing customer support to store employees
  • conducting on-site visits.

Please contact us for further details.