An effective compliance program starts with an evaluation of the compliance risks specific to a money service businesses operations and structure. As a special project, ICS will:

• Identify specific laws and regulations that are applicable
• Review existing compliance documentation
• Evaluate compliance policies and procedures
• Test transactions in selected areas
• Interview key personnel
• Ascertain compliance systems and controls
• Evaluate compliance training efforts
• Review prior examination and audit findings

The results of this risk assessment will be used to analyze the strengths and weaknesses of the current compliance program, and then to recommend an enhanced, comprehensive program, to ensure the effective deployment of resources to the compliance issues of greatest risk.