BSA Audit Plus
BSA Audit Plus+
FinCEN guidance states that registered MSBs need an independent review at least every 18 months, while most banks and liquidity providers request this be done annually, due to the ever-changing regulatory environment of the digital assets space. When seeking a BSA Audit that is acceptable to your vendors and regulators, there are a few key characteristics to look for:
BitSource has conducted over 100 BSA Audits across different business types in the cryptocurrency space, from OTC desks, exchanges, payment processors to bitcoin ATMs. We are CAMS certified and our staff has been in the crypto space since 2013.
Content: Does the BSA Audit review the 5 pillars of an effective AML Program? Are they looking at more than just the written policy?
Our audit is time-tested and thoroughly reviews all 4, or depending on the business process, 5 pillars of an effective AML program. Our audit content has never been rejected by a bank or regulator and has industry-leading content and references.
Best Practices: Am I walking away from the audit with enriching industry standards and practices to improve my organization's performance?
Having been a compliance officer for several entities in the space and actively investigating financial crimes in the cryptocurrency environment, I bring over 15 years of investigations and audit experience to the table to assure your business knows what it takes to have a true “culture of compliance”.
Follow up: What do I do with the Independent Review once it is completed? How do I respond and how does my Company address the findings?
Our half-hour free advisory session post-audit puts your team in the driver’s seat to craft a roadmap for future success. Our audits are an action item, which a quality response and follow-up questions aren’t left to be ignored.