BSA Risk Assessment
Review & Creation
Expert review of your existing BSA risk assessment — or full creation from scratch. Gap analysis against current FinCEN standards, written remediation report, and examiner-ready documentation.
What Is a BSA Risk Assessment — and Why Is It Required?
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 the foundation of every AML compliance program — without it, your entire program is considered deficient by FinCEN examiners, regardless of how good your training or policies are.
FinCEN requires covered financial institutions to maintain a current, documented BSA risk assessment that reflects their actual business model — including customer types, products and services, transaction volumes, delivery channels, and geographic exposure.
Many small businesses have outdated risk assessments — or none at all. Soflo's BSA risk assessment service provides expert review of your existing document or full creation from scratch, delivered in 3–5 business days at a fraction of traditional consulting costs.
FinCEN Examination Finding
"An inadequate or missing BSA risk assessment is one of the most common deficiencies cited in FinCEN enforcement actions against small financial institutions."
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Identification of missing risk categories, outdated methodologies, and areas that would draw examiner scrutiny.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 $798/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
- AML policy & procedures review
- Written remediation recommendations
- 3–5 business day delivery
Instant access · no sales call required
Training + Creation
For businesses that need a BSA risk assessment built from scratch
From $1,736/yr
Annual subscription · includes AML training
Best for
You don't have a BSA risk assessment or need a complete rebuild.
- Everything in Training + Review
- 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. FinCEN requires every covered financial institution to maintain a current BSA risk assessment as the foundation of its AML program.
Who needs a BSA risk assessment?
Any business classified as a financial institution under the Bank Secrecy Act is required to maintain a BSA risk assessment. This includes 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?
FinCEN expects BSA risk assessments to be updated whenever there are material changes to your business — new products, new customer segments, new geographic markets, or significant changes in transaction volume. At minimum, most examiners expect a formal review and update at least annually.
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. Delivery typically takes 3–5 business days.
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 $798/year. Full BSA risk assessment creation is included in the Training + Creation plan starting at $1,736/year. Traditional consulting firms charge $2,000–$10,000+ for a standalone BSA risk assessment.
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Get Your BSA Risk Assessment Right
Expert review or full creation — delivered in 3–5 business days. Examiner-ready format. Fixed price. No sales calls.