"AML" Policy

At Biscayne Financial Group, we are committed to upholding the highest standards of integrity, transparency, and regulatory compliance in all aspects of our financial services. As part of this commitment, we have implemented a comprehensive Anti-Money Laundering (AML) program designed to detect, prevent, and report suspicious activities in accordance with U.S. law.Our AML framework is built on the principles of the Bank Secrecy Act (BSA), the Anti-Money Laundering Act of 2020, and guidance from the Financial Crimes Enforcement Network (FinCEN) and FINRA. We actively monitor regulatory developments, including enhancements proposed in 2024 to strengthen AML and counter-terrorist financing programs.

🔍 Key Elements of Our AML Program

• Customer Identification & Verification: We follow a rigorous Customer Identification Program (CIP) to verify the identity of all clients using reliable, government-issued documentation.
• Customer Due Diligence (CDD): We assess the nature and purpose of each client relationship and maintain updated risk profiles, including identification of beneficial owners for legal entities.
• Transaction Monitoring: We monitor financial activity to identify patterns that may indicate money laundering, terrorist financing, or other illicit behavior.
• Suspicious Activity Reporting: We file Suspicious Activity Reports (SARs) with the appropriate authorities when necessary, maintaining confidentiality and compliance with federal requirements.
• Ongoing Training: Our team receives regular AML training to stay informed about emerging threats and regulatory changes.
• Independent Review: We conduct periodic independent audits to ensure the effectiveness of our AML procedures.

At Biscayne Financial Group, we believe that a strong AML program is not only a regulatory obligation—it’s a reflection of our core values: trust, transparency, and client-first service.If you have questions about our AML practices or wish to report suspicious activity, please contact our Compliance Officer.