AML Compliance for
You're not a bank, so we won't treat you like one.
Like other financial institutions, Money Services Businesses (MSBs) are required to maintain an effective anti-money laundering (AML) program.
Unlike other financial institutions, MSBs face additional unique compliance challenges:
- Providing quick and easy access to transactions like money orders, check cashing, currency exchange and money transfer services
- Transitory customers, making KYC capture challenging
- Reduced visibility into transactions movement
You need a powerful AML solution built to work for MSBs.
Why Compliance Professionals Prefer Alessa
Alessa’s Integrated AML Platform for MSBs Offers You
Operating in a saturated market, your MSB must ensure clients receive the best service. Alessa lets you conduct real-time name screening during onboarding, so you get the assurance you need with jeopardizing customer service.
Our powerful compliance solution uses OFAC, politically exposed persons (PEPs), sanctions watchlists, and internal lists, to provide a realistic assessment of the potential risks associated with an entity during onboarding and any subsequent interactions.
Whether your team manages the compliance of a single location or multiple retail outlets, Alessa allows you to review suspicious transactions including structuring, smurfing and flipping or out-of-compliance activities in real-time.
Using data from various sources, Alessa allows you to develop a risk scoring model that matches your organization’s risk tolerance so you can easily assess the risk of doing business with an individual. Alessa can also continuously review your client base and updates individual risk scores based on client activity and third-party data.
Check out our extensive 30-page overview of AML compliance for gaming institutions, including best practices for casino risk management.
Explore the diverse typologies of money laundering and terrorist financing, from shell companies and offshore accounts to layering, smurfing, and mingling.
View a free webinar that explains everything compliance professionals need to know regarding cryptocurrency and anti-money laundering.