Skip to content
BOL Conferences
Learn More - Click Here!

Forums · Active Threads · Forum Rules · Mark All Read · Log In
BankersOnline.com Forums Banker Forums Need to Remain Anonymous Payroll company customers and AML program
New Reply Thread Options
#2197515 - 11/06/18 10:16 PM Payroll company customers and AML program
Anonymous
Unregistered

Does anyone know if there is a *requirement* that a payroll processing company have an AML program? For those banks on this forum that bank payroll processing businesses, are you finding that they have an AML program? Do you require them to have an AML program? Thank you for your responses.

Return to Top Reply Quote Quick Reply Quick Quote
#2197554 - 11/07/18 03:05 PM Re: Payroll company customers and AML program Anonymous
Adam Witmer Offline
Power Poster
Joined: Sep 2010
Posts: 2,658
Originally Posted By Anonymous
Does anyone know if there is a *requirement* that a payroll processing company have an AML program?

If they are a money services business (MSB) then an AML program (and other MSB requirements) apply to them. For example, ADP is a registered MSB.
_________________________
Adam Witmer, CRCM

All statements are my opinion, not those of my employer, and should not be taken as legal advice.
www.compliancecohort.com

Return to Top Reply Quote Quick Reply Quick Quote
Quick Reply:
HTML is disabled
UBBCode is enabled




Moderator:  MagicCity, P*Q, Truffle Royale