AML/BSA Risk Assessment Support
for Florida Businesses
Expert review of your existing BSA risk assessment, or full creation from scratch. Gap analysis against current FinCEN standards, written remediation report, and prioritized remediation recommendations.
What Is a BSA Risk Assessment, and Why Does It Matter?
A BSA risk assessment is a written document that identifies and evaluates the specific money laundering and financial crime risks your business faces. It is a foundational element of a strong AML program and the starting point for risk-based controls. Many examiners treat a documented, current assessment as the basis for evaluating whether your program is proportionate to your risk, which is why it is one of the first documents they ask for.
Florida businesses face added regulatory scrutiny beyond standard FinCEN requirements. FinCEN Geographic Targeting Orders historically covering Miami-Dade, Broward, and Palm Beach counties required title insurance companies to report beneficial ownership on all-cash purchases above set thresholds; those temporary GTOs expired February 28, 2026, and the permanent nationwide Residential Real Estate Reporting rule was vacated by a federal court on March 19, 2026. While that order remains in force, FinCEN does not require reporting persons to file residential real estate reports. Separately, Chapter 560 of the Florida Statutes subjects state-licensed MSBs to OFR examination standards that evaluate AML program documentation, training records, and BSA risk assessment quality.
Many small businesses have outdated risk assessments, or none at all. Soflo's AML/BSA risk assessment support delivers expert review of your existing document or full creation from scratch - with a written gap analysis delivered within 15 business days of complete intake at a fraction of traditional consulting costs.
Why It Matters
An inadequate understanding of institutional risk can contribute to AML program deficiencies. Regulators expect a program whose controls are appropriate for the institution's actual risk profile, and a current risk assessment is how that alignment is documented.
Risk Categories Covered
Customer Risk
High-risk customer types, PEPs, non-resident aliens, cash-intensive businesses
Product & Service Risk
Wire transfers, cash transactions, prepaid cards, digital payments
Geographic Risk
High-risk jurisdictions, FATF grey/black lists, state-level risk factors
Transaction Volume Risk
CTR thresholds, structuring patterns, velocity analysis
Channel Risk
Online onboarding, third-party agents, correspondent relationships
Regulatory History
Prior examination findings, enforcement actions, SAR filing history
BSA Risk Assessment Service Deliverables
Every BSA risk assessment engagement includes expert analysis, written documentation, and examiner-ready deliverables.
Document Review
Line-by-line review of your existing BSA risk assessment against current FinCEN examination standards and guidance.
Gap Analysis
Identification of missing risk categories, outdated methodologies, and areas that would draw examiner scrutiny.
Remediation Report
Written report with specific, actionable recommendations for updating your BSA risk assessment to meet current standards.
Institutional Risk Assessment
Full creation of a new BSA risk assessment from scratch, including customer segmentation, product risk ratings, and geographic analysis.
Customer Risk Rating
Custom customer risk rating methodology aligned to your specific business model and regulatory risk profile.
Examiner-Ready Format
All deliverables formatted to satisfy FinCEN examiner expectations, ready for your next examination or audit.
BSA Risk Assessment Plans
Both plans include annual AML training and auto-generated certificates of completion.
Training + Review
For businesses with an existing BSA risk assessment
From $1,800/yr
Annual subscription · includes AML training
Best for
You already have a BSA risk assessment but need it reviewed and updated.
- Annual AML-BSA video training
- Auto-generated certificates
- Expert BSA risk assessment review
- Gap analysis vs. FinCEN standards
- Review of existing AML/BSA policy & procedures
- Written remediation recommendations
- Written gap analysis in 15 business days
Instant access · no sales call required
Training + Creation
For businesses that need a BSA risk assessment built from scratch
From $3,500/yr
Annual subscription · includes AML training
Best for
You don't have a BSA risk assessment or need a complete rebuild.
- Everything in Training Only
- New institutional BSA risk assessment
- Customer risk rating methodology
- Product & service risk analysis
- Geographic risk assessment
- Custom AML policy manual
- FinCEN regulatory update tracking
Instant access · no sales call required
BSA Risk Assessment Questions
What is a BSA risk assessment?
A BSA risk assessment is a written document that identifies and evaluates the specific money laundering and financial crime risks your business faces, based on your customer types, products and services, transaction volumes, and geographic exposure. A documented risk assessment is widely recognized as a foundational compliance practice and is expected or expressly required in certain regulatory frameworks. Requirements vary by institution type.
Who needs a BSA risk assessment?
A documented risk assessment is a foundational compliance practice for businesses classified as financial institutions under the Bank Secrecy Act, though specific requirements vary by institution type. Businesses that commonly maintain one include money services businesses, non-bank mortgage lenders, fintech companies, real estate professionals, title and escrow companies, casinos, investment advisers, insurance companies, and dealers in precious metals and gems.
How often does a BSA risk assessment need to be updated?
Best practice is to review and update your BSA risk assessment whenever there are material changes to your business, such as new products, new customer segments, new geographic markets, or significant changes in transaction volume. Many organizations also refresh it on a regular cycle as part of their program review.
What does a BSA risk assessment review include?
Soflo's BSA risk assessment review includes: a detailed review of your existing risk assessment document, gap analysis against current FinCEN examination standards, identification of missing risk categories or outdated methodologies, and a written remediation report with specific recommendations for updating your assessment. Training access is immediate; the written gap analysis is delivered within 15 business days of complete intake. Review and Creation timelines are counted from submission of complete Intake Materials; no turnaround commitment applies until intake is complete.
What is the difference between a BSA risk assessment review and creation?
A BSA risk assessment review analyzes your existing document and identifies gaps. It assumes you already have a risk assessment in place. A BSA risk assessment creation builds a new institutional risk assessment from scratch, including customer risk segmentation, product and service risk ratings, geographic risk analysis, and a complete risk scoring methodology.
How much does a BSA risk assessment service cost?
Soflo's BSA risk assessment review is included in the Training + Review plan starting at $1,800/year. Full BSA risk assessment creation is included in the Training + Creation plan starting at $3,500/year. Traditional consulting firms charge $2,000–$10,000+ for a standalone BSA risk assessment.
Get Your BSA Risk Assessment Right
Training access is immediate; review delivers a written gap analysis within 15 business days of complete intake, and creation delivers first-draft documents within 20 business days of complete intake. Fixed price. No mandatory sales call.