Compliance Area

MIHigh RiskMedium Complexity

BSA/AML Execution in Michigan

Execute your BSA/AML program with automated workflows for due diligence, monitoring, and reporting. Navigate Michigan's specific regulatory requirements with automated workflows and evidence capture.

More for Michigan

Michigan Regulatory Environment

Financial institutions executing bsa/aml execution in Michigan navigate specific state requirements:

DIFS oversight
Modernized licensing framework
Consumer protection focus
Money transmitter requirements

Monitoring Frequency

Continuous monitoring with daily, weekly, and monthly review cycles

Key Controls for MI

Customer identification and verification
Risk-based customer due diligence
Transaction monitoring and alert review
Suspicious activity investigation and reporting
Currency transaction reporting
OFAC sanctions screening
BSA/AML training completion
Independent testing coordination

The Execution Challenge in Michigan

BSA/AML Execution in Michigan requires navigating both federal requirements and MI-specific regulations. Most institutions struggle with tracking state-specific obligations, maintaining evidence for multiple regulators, and preparing for both state and federal examinations. The complexity of medium-complexity environments like MI makes systematic execution essential.

The Canarie Execution Layer for MI

Canarie transforms bsa/aml execution in Michigan from periodic scrambles into continuous execution. Both federal and MI-specific controls are scheduled, evidence is captured automatically, and proof of compliance is always ready for any examiner.

State-Aware Scheduling

Controls and monitoring activities are scheduled based on both federal and MI requirements.

Dual-Purpose Evidence

Evidence is captured once but organized for both state and federal examiner expectations.

Always Exam-Ready

Export organized evidence packages for MI state examiners or federal regulators.

Frequently Asked Questions

Automate Your BSA/AML Execution in Michigan

See how MI institutions execute compliance with confidence.