BSA Outsourcing
Stout understands the ongoing compliance and regulatory issues related to the Bank Secrecy Act (BSA), USA PATRIOT Act, anti-money laundering (AML), counter-terrorism financing (CTF), and Office of Foreign Assets Control (OFAC) Sanctions laws, regulations, and best practices.
BSA Outsourcing Services
Stout regularly works with financial institutions of all types and sizes that struggle with staffing constraints and keeping up with regulatory requirements. Stout provides BSA outsourcing to financial institutions that need additional staff and expertise – both short term and long term.
Some of the most requested outsourcing functions include:
- CDD and EDD reviews
- Alert investigations
- Suspicious activity reporting (SAR) narrative documentation
- BSA risk assessment documentation
- BSA program documentation
- BSA/AML/OFAC training
- Board-of-directors reporting
- Lookback services
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