AML Training for Money Services Businesses
Check cashers, money transmitters, currency exchanges, and prepaid access providers are legally required to complete annual AML-BSA training under FinCEN regulations. Soflo delivers MSB-specific online training with auto-generated certificates, instant access, no scheduling required.
Client satisfaction
MSBs trained
Training duration
Starting price
What AML Training Do Money Services Businesses Need?
Under the Bank Secrecy Act, all money services businesses, including check cashers, money transmitters, currency dealers, prepaid access providers, and cryptocurrency-related businesses, are legally required to provide annual AML-BSA training to all employees involved in transactions or compliance functions.
Soflo's AML training for MSBs covers MSB-specific scenarios including structuring detection, currency transaction reporting (CTR), suspicious activity reporting (SAR), OFAC screening, and customer identification. Each employee receives an auto-generated certificate of completion that satisfies FinCEN examiner documentation requirements.
Training is delivered entirely online and takes approximately 45 to 90 minutes per employee. Managers get a real-time dashboard showing completion status for every team member, plus exportable audit reports ready for FinCEN and state money transmitter regulators.
Regulatory Authority
FinCEN (Financial Crimes Enforcement Network)
What's Included
Annual AML-BSA training for all MSB employees
CTR and SAR filing procedures training
Structuring detection and red flag recognition
OFAC screening and customer identification training
Auto-generated certificates of completion
Audit-ready training reports for FinCEN examiners
The Smarter Way to Stay Compliant
No consultants. No proposals. No sales calls. Just a complete AML-BSA compliance program, online, instantly.
MSB-Specific Content
Training covers CTR filing, structuring detection, SAR obligations, and OFAC screening, content built specifically for check cashers, money transmitters, and currency exchanges.
Auto-Generated Certificates
Every employee receives a certificate of completion immediately after finishing training. No manual processing, no waiting.
Manager Dashboard
Track completion status for every employee in real time. Export audit-ready reports for FinCEN and state money transmitter regulators.
Instant Access
Training is available immediately after purchase. No scheduling, no classrooms, no waiting for a consultant to set things up.
Three Plans. No Custom Quotes.
Pick your plan and start today. No proposals, no sales calls, no waiting.
Training Only
Annual AML-BSA training & certification
From $75/yr
Annual AML-BSA compliance subscription
- Annual AML-BSA video training modules
- Certificates verified through NAMLC.com
- Employee progress tracking dashboard
- Audit-ready compliance reports
- Automated annual renewal reminders
Instant access · no sales call required
Training + Review
Training + BSA risk assessment review
From $7,269/yr
Annual AML-BSA compliance subscription
- Everything in Training Only
- Expert review of your BSA risk assessment
- Gap analysis against current FinCEN standards
- AML policy & procedures review
- Written remediation recommendations report
Instant access · no sales call required
Training + Creation
Full AML-BSA program built from scratch
From $11,810/yr
Annual AML-BSA compliance subscription
- Everything in Training Only
- New institutional BSA risk assessment
- Custom AML policy manual for your company
- Customer risk rating methodology
- FinCEN regulatory update tracking
Instant access · no sales call required
Common Questions
Is annual AML training required for money services businesses?
Yes. FinCEN requires all money services businesses to provide annual AML-BSA training to employees involved in transactions or compliance functions. This is a federal requirement under the Bank Secrecy Act, not optional guidance. Failure to maintain a documented training program can result in civil money penalties and license revocation.
What does AML training for MSBs cover?
Soflo's AML training for money services businesses covers CTR filing requirements, structuring detection, SAR filing obligations, OFAC screening, customer identification procedures, and MSB-specific red flags.
How long does AML training take for MSB employees?
Soflo's AML training for money services businesses takes approximately 45 to 90 minutes per employee. Training is delivered online and can be completed at any time.
Does a check casher need annual AML training?
Yes. Check cashers are classified as money services businesses under the Bank Secrecy Act and are required to provide annual AML-BSA training to all employees. FinCEN actively examines check casher AML programs and has assessed significant civil money penalties against check cashers with deficient training documentation.
How much does AML training cost for a money services business?
Soflo offers annual AML training for money services businesses starting at $75/seat. Training includes MSB-specific content, auto-generated certificates, and annual renewal reminders.
Related AML-BSA compliance resources
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AML Training for Money Services Businesses
Subscribe online in minutes. No sales calls. No consultants. Instant access to your complete AML-BSA compliance program.