Canarie AI

31 CFR Chapter X

BSA/AML Compliance Execution for BaaS Platforms

The Bank Secrecy Act requires financial institutions to maintain comprehensive anti-money laundering programs. Canarie helps you execute BSA/AML compliance through automated workflows for customer identification, enhanced due diligence, transaction monitoring, and SAR filing, with complete evidence capture. Specifically tailored for the compliance requirements of baas platforms.

More for BaaS Platforms

Key Requirements

1
Customer Identification Program (CIP)
2
Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD)
3
Transaction monitoring and suspicious activity detection
4
Suspicious Activity Report (SAR) filing
5
Currency Transaction Report (CTR) filing
6
BSA/AML training program
7
Independent testing and audit

BaaS Platforms Compliance Challenges

Oversight of multiple fintech partners
Demonstrating partner compliance to examiners
Scaling oversight with partner growth
Managing third-party risk at scale
Consistent compliance standards

How Canarie Helps BaaS Platforms

Automated Workflows

Recurring BSA/AML Compliance Execution tasks are scheduled, assigned, and tracked automatically.

Evidence Capture

Evidence is captured automatically as compliance work is completed.

Audit Trails

Complete audit trails show who did what, when, with immutable records.

Examiner-Ready Export

Export organized evidence packages in formats examiners expect.

Non-Compliance Risks

Civil money penalties up to $1M per day
Criminal penalties including imprisonment
Cease and desist orders
Consent orders with corrective action requirements

Frequently Asked Questions

Automate BSA/AML Compliance Execution for Your BaaS Platform

See how baas platforms execute compliance with confidence.