Anti-Money Laundering (AML) Compliance
Section 352 of the USA PATRIOT ACT amended the Bank Secrecy Act (BSA) to require financial institutions, including broker-dealers, to establish AML programs. Broker-dealers can satisfy this requirement by implementing and maintaining an AML program that complies with SRO rule requirements. In September 2009, the SEC approved FINRA’s new AML compliance rule, FINRA Rule 3310. FINRA’s new rule adopts NASD Rule 3011 and most of NASD IM-3011-1 and deletes NYSE Rule 445 as duplicative. As with NASD Rule 3011 and NYSE Rule 445, FINRA Rule 3310 requires member organizations to establish risk-based AML compliance programs. Please note, however, that FINRA Rule 3310 does not contain the exception in NASD IM-3011-1 to the independent testing requirement. FINRA Rule 3310 became effective on January 1, 2010.

BOBWHITE SILVER BOBWHITE GOLD INC, dba bobwhite silver and BSBG maintains strict adherence to AML polices. By definition:
An AML program must be in writing and include, at a minimum:
Policies, procedures, and internal controls reasonably designed to achieve compliance with the BSA and its implementing rules; policies and procedures that can be reasonably expected to detect and cause the reporting of transactions under 31 U.S.C. 5318(g) and the implementing regulations there-under; the designation of an AML compliance officer (AML Officer), including notification to the SROs; ongoing AML employee training; and an independent test of the firm’s AML program, annually for most firms.

At BSBG, we take the AML laws very seriously.
– We do not transact business outside of the US, don’t accept overseas bank wires, don’t accept cash or cash instruments (money orders, cashier’s checks, travelers checks), will only ship to verified US addresses.
– All transactions are analyzed for suspicious activity.
– We stay updated on all pertinent laws and maintain ongoing training of employees in matters related to the prevention of money laundering.
– Any and all suspicious transactions are immediately reported to relevant authorities within the scope of the law against suspicious transactions.
– We operate with the inflexible policy that the safety of our employees, our country and the world at large are incalculably more important than any short term, small financial gain.