Practice Overview
Our Banking, MSB, FinTech and Cryptocurrency team provides a full suite of Bank Secrecy Act, Anti-Money Laundering and Office of Foreign Assets Control (BSA/AML/OFAC) compliance consulting services, state money transmitter licensing acquisition and maintenance support, independent reviews, and corporate compliance training.
Practice Leadership
Meet The Team
Chief Growth Officer and Senior Managing Director, Fintech & Banking Compliance
Case Examples
All Case Examples
Industry Leader in Consumer Leading Seeking Consumer Compliance Review
Bates Group was chosen to perform an independent review of a leading consumer lender's compliance management system based on our collaborative approach, depth of knowledge, and ease of information gathering to reduce the workload for the lender. Bates’ Independent review team is composed of non-bank financial institution experts from former Chief Compliance Officers to former state regulators. The comprehensive and collaborative approach we take with reviews provides clients with valuable recommendations and a polished final report.
Multinational financial institution seeks to enter the US
Bates Group was chosen to navigate the complex process of acquiring and maintaining state money transmitter licenses based on ourwealth of experience in the space. Bates formulated a phased approach for licensing and bank account onboarding to layer into the US market in line with the client's business plan. The licensing team utilized its knowledge of the regulatory landscape to build up the program from FinCEN registration to policy and procedure development.
MSB Needed Heavy Lifting Team to Handle Annual Review
Bates Group was chosen to perform the independent review of a leading Money Services Business (MSB) focusing on remittances in the US-Latam remittance corridor based on our collaborative approach, depth of knowledge, and ease of information gathering to reduce the workload for the MSB. Bates’ Independent review team is composed of non-bank financial institution experts from former Chief Compliance Officers to former state regulators. The comprehensive and collaborative approach we take with reviews provides clients with valuable recommendations and a polished final report.
Consumer Protection Operations
A client hired us to conduct an independent review of their consumer protection operations. This would be the client's first independent review of their consumer protection operations.
Know Your Customer Alerts
A money services business hired us to address a significant workload arising from Know Your Customer (“KYC”) alerts.
Services
Our team’s focus is on helping financial services firms, MSBs, banks and NBFIs develop, analyze, and improve their compliance programs, as well as enhance and review existing programs.
Bates assists clients in obtaining their money transmitter license, as well as compliance with federal and state laws following licensure and the start of operations.
Our consultants and experts design and implement up-to-date AML-compliant policies that help new and existing firms stay relevant and current in the fast-growing crypto services market.