Since 2012, SIRS has been a premier provider of AML/CFT compliance consulting services. SIRS delivers customized, industry-specific AML/CFT compliance solutions for non-bank financial institutions (NBFIs). Acting as a partner to our clients, SIRS’ services address Bank Secrecy Act (BSA) requirements applicable to the client’s business dealings.
SIRS serves various NBFI businesses, including registered investment advisers (RIAs), mortgage brokers and lenders (RMLOs), securities broker/dealers (B/Ds), and precious metals & jewelry dealers. Clients can seamlessly integrate SIRS’ AML/CFT compliance services into their existing procedures. These expertly designed solutions help clients fully meet applicable BSA regulatory requirements.
SIRS’ AML/CFT services include risk assessments, written policies and procedures (AML/CFT programs), training, and independent testing.
Under 31 CFR Chapter X, each financial institution is required to implement a written AML/CFT program that is risk-based and reasonably designed to prevent the business from being used for money laundering, terrorist financing, or other illicit finance activities. The AML/CFT program must be designed to ensure compliance with the applicable provisions of the Bank Secrecy Act and its implementing regulations. Among other things, the BSA’s implementing regulations include the designation of an AML/CFT compliance person, training of personnel, independent testing of the AML/CFT program, and conducting ongoing customer due diligence. To address these requirements, SIRS offers comprehensive AML/CFT compliance services for many types of NBFIs. Read more…
Since 2007, Securities Industry Records Services, LLC (SIRS) has been a premier provider of cost-effective, regulatory compliance services for non-bank financial institutions. In 2012, SIRS shifted from a limited focus on SEC regulations governing securities broker/dealers to the broader range of AML/CFT regulations governing NBFIs (including RIAs, RMLOs, B/Ds, and precious metals and jewelry dealers). Read more…
