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Fixed Fee AML Reviews For MSBs

One of the first blog posts that we published was “How to Negotiate Your Consulting Contracts Like A Pro.” We’ve been working closely with the Canadian MSB Association (CMSBA) and we’re happy to announce two things that we think will help small and mid sized MSBs do just that.

Outlier offers no hassle, fixed-fee pricing for MSB reviews, and  10% off throughout for CMSBA members (proof of membership is required). The pricing listed on this page is guaranteed to Canadian MSBs through June 2018.

No Hassle, Fixed Fee AML Compliance Effectiveness Review Pricing

All MSBs are required to have AML Compliance Effectiveness Reviews at least every two years. These reviews involve a review and assessment of your compliance program and operational testing. MSBs receive a formal review report, and Senior Management must provide signoff on the final report within 30 days of the day it’s issued. While Canadian legislation permits MSBs to conduct self-reviews, most banking service providers require their MSB clients to use an external reviewer.

To make things easier for Canadian businesses, we’re introducing no hassle pricing. To calculate where you fall on the chart, just add up the number of employees and agents.

Number of Employees & Agents* AML Compliance Effectiveness Review Price CMSBA Member Special Pricing**
1-5 5,000 4,500
6-10 6,000 5,400
11-15 7,000 6,300
16-20 8,000 7,200
21-25 9,000 8,100
26-30 10,000 9,000
31-35 10,500  9,450
36-40 11,000  9,900
41-45 11,500  10,350
46-50 12,000  10,800

All prices are subject to applicable taxes. Additional fees apply for staff travel and administration related to the sorting of paper documents (where applicable).

*If you have part-time or seasonal employees, count two part-time employees as one employee. Include business owners who are active in running the business as employees. Count each agent location as one employee. If you’re not sure about the calculation, feel free to contact us.

**Proof of membership is required.

CMSBA Member Savings

If you’re not a member of the CMSBA yet, but like saving money you can learn more and become a member at canadianmsb.org.

Coast to Coast to Coast

Our Canadian team is here to serve MSBs in all parts of Canada. If we don’t have a consultant near you, we will keep costs low by conducting your review remotely. To do this, we will review electronic copies of your compliance program and data. You’ll even be able to see us face to face on Skype calls.

Disclaimers

Outlier cannot be considered an “external reviewer” if we have designed your compliance program or conducted annual training with your staff. Most banking service providers require that you have an external reviewer. Some banking service providers also have specific lists of reviewers whose work they will accept. Please check with your banking service provider to ensure that our review will be acceptable for their purposes.

Need a Hand?

If you’re ready to schedule a review or would like more information please contact us.

 

 

 

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