Anti-Money Laundering (AML) Compliance

The USA PATRIOT Act of of 2001 (the "Act") was signed into law in response to the September 11th terrorist attacks as the United States and other concerned nations began to recognize the link between money laundering and global terrorism. The Act made it mandatory for all money services businesses ("MSBs"), including CheckFreePay and its Agent locations, to have an effective Anti-Money Laundering (AML) Compliance Program. Each Program must be commensurate with the risks posed by the location, size, nature and volume of the service provided by the MSB.

An effective Program is one designed to prevent the MSB from being used to facilitate money laundering. It should be available for every employee to access at each location for reference to ensure they are following all the requirements in accordance with the training you are responsible to provide to them.

Each AML Compliance Program must be in writing and must:

  • Incorporate policies, procedures and internal controls reasonably designed to assure compliance with the BSA. Policies must include reference to all the money services you offer, including but not limited to CheckFreePay walk-in bill payment transactions.
  • Designate a Compliance Officer responsible for total oversight of the AML Program.
  • Provide education and / or training of appropriate personnel.
  • Provide for independent review to monitor and maintain an adequate Program.

CheckFreePay values its relationship with each Agent that provides transaction processing services and has put together this package of sample information which Agents can use as a guide in creating their own Program commensurate with their own risks and businesses. This information is intended to provide you with a general overview of the BSA requirements applicable to businesses that server as CheckFreePay Agents. The information includes:

  • A sample AML Compliance Program.
  • General outline of a Compliance Officer's designation and responsibilities.
  • How to access free BSA training for your Compliance Officer and your employees through CheckFreePay.
  • A sample independent¬†review checklist.

CheckFreePay Web-Based BSA Compliance Training Course

CheckFreePay offers our Focus on Compliance course in order to comply with the law and provide agents with the necessary training to meet BSA regulations while performing daily job functions and providing quality customer service. This course provides an interactive, multimedia experience that allows agents (and their employees) to proceed through the course at their own pace. Focus on Compliance is completely free of charge to our agents and their employees.

Our Focus on Compliance training course includes a wealth of reference information on CheckFreePay requirements and agent obligations when processing walk-in payment transactions. The website can be used as a daily compliance reference tool for your money services business operations.

Important Note: A Compliance Officer for your company must be designated and is required to complete this training each year. Although it is not required, it is highly recommended that all employees who process payments at your locations participate in this training as well.

Web-Based Training

Paper-Based Training

Agents who do not have Internet capability can request a paper version of the training course. English and Spanish versions of the course are available. Please call the Compliance Hotline at 800-309-7668 ext. 4652 for information.