Bates Group Acquires CorCom LLC, Expands BSA/AML/OFAC Compliance Services for Fintech, Cryptocurrency, MSBs, Banking Firms
Lake Oswego, Ore. — October 8, 2021 — Bates Group, a leading financial services consulting firm, is pleased to announce the acquisition of CorCom, a top AML compliance (anti-money laundering) consulting firm based in Spartanburg, SC.
With the acquisition, Bates expands its AML and financial crimes consulting offerings to established and start-up companies in the areas of banking, fintech (financial technology), cryptocurrency firms, and traditional MSBs (Money Services Businesses). CorCom provides a full suite of BSA/AML/OFAC compliance (Bank Secrecy Act/Anti-Money Laundering/Office of Financial Assets Control) consulting services, plus services in consumer protection, state licensing, and training.
CorCom Founder and CEO Brandi B. Reynolds, CAMS-Audit, CCI, CCCE, has joined Bates as Managing Director of Bates Group’s AML Compliance Practice, staffed by CorCom’s entire team of certified AML and compliance professionals, as well as its affiliate consultants. The new practice will continue to serve CorCom’s existing client base and expand the range of services to Bates Group clients throughout the U.S.
“CorCom is well established in the money services industry. This acquisition expands Bates’ offerings to the fast-growing fintech and cryptocurrency space for our current clients as well as those seeking to develop services in this space,” said Benjamin Pappas, Bates Group President.
With the addition of CorCom, Bates Group is creating a unique and integrated resource of services, experts, and experience — ready to help financial service firms succeed in these high-growth industries,” stated Ms. Reynolds.
Bates Group has been a trusted partner to our financial services clients and their counsel for over 40 years, delivering superior quality and results on a cost-effective basis. Voted a 2021 Top Employer, as well as a Best Securities Litigation Consulting Firm by readers of the New York Law Journal and an NYLJ Hall of Fame service provider, Bates Group provides solutions for your legal, regulatory, AML, and compliance matters. With a full professional staff and a roster of over 165 financial industry and regulatory compliance experts, Bates offers services in litigation consultation and testimony, regulatory enforcement and internal investigations, project based and on-going compliance support, AML compliance and financial crimes prevention, forensic accounting, damages, and big data consulting.
CorCom’s experienced Subject Matter Experts (SME) possess a wide range of industry knowledge relating to banking and non-banking financial institutions. CorCom offers Consulting Services that include BSA/AML/OFAC Program Development, Risk Management, Training, Advisory Services, Independent Reviews, Policy & Procedure Development, Consumer Protection Compliance, and Money Transmitter License Acquisition & License Maintenance. CorCom provides practical guidance to company’s seeking assistance with all things related to the Bank Secrecy Act (BSA), Anti-Money Laundering (AML), the Office of Financial Assets Control (OFAC), identifying risk, detecting suspicious or unusual activity, and preventing exposure associated with money laundering and terrorist financing.