BiTACH Exchange is a licensed Money Services Business
US Federal Registration #31000045131193
BiTACH Exchange places an emphasis on OFAC compliance
through training of company policy and procedures.
BSA & Anti-Money Laundering
“I would like to address the challenge of implementing a risk-based approach to money laundering. Our AML regime is risk-based, because each and every financial institution – from its products, to its customers, to its internal procedures – is different. And because of these differences, it would be impossible to have a one-size-fits-all approach.”
—– Jennifer Shasky Calvery
Director, Financial Crimes Enforcement Network
August 12, 2014
Anti-Money Laundering & Mitigating Risks
As defined by the FinCEN Director, AML regulations are about mitigating risk. The compliance team at BiTACH Exchange has developed a three tiered approach used in training our clients on AML policy and practice, to remain in compliance with the Bank Secrecy Act.
- Face to Face Identification
- Strict Record Keeping
- Timely Reporting