CPAs (Certified Public Accountants) + Anti-Money Laundering (AML): The Challenge
As cpa, preparing bank statements for anti-money laundering (aml) is a common but time-consuming task. AML compliance officers need to review bank statements to identify suspicious transactions, unusual patterns, and politically exposed person (PEP) activity.
How BankScan AI Helps CPAs (Certified Public Accountants) with Anti-Money Laundering (AML)
BankScan AI converts any US bank statement PDF to Excel instantly — supporting Chase, Bank of America, Wells Fargo, Citi, and 30+ US banks for seamless client work. For anti-money laundering (aml) specifically, BankScan AI extracts Transactions inconsistent with known client profile, cash deposits near reportin automatically.
How CPAs (Certified Public Accountants) Handle Anti-Money Laundering (AML)
When preparing bank statements for anti-money laundering (aml), cpas (certified public accountants) need to CPAs receive client bank statements for tax return preparation, financial statement compilation and review, and audit procedures. They reconcile bank . BankScan AI automates the data extraction step.
Key terms you'll encounter: bank confirmation, reconciling items, substantive testing, adjusted trial balance.
How It Works
Upload bank statement PDFs
Supports all major banks. Upload Ongoing monitoring typically reviews 3-12 months; enhanced due diligence on high-risk clients may require 2+ years of transaction history of statements for anti-money laundering (aml).
AI extracts what you need
Our AI extracts Transactions inconsistent with known client profile, cash de — formatted for cpas (certified public accountants) workflows.
Complete your anti-money laundering (aml) work
Download Excel files ready for anti-money laundering (aml). Sortable by amount (descending) to identify large transactions, filterable by transaction type, with counterparty names searchable for sanctions list cross-referencing
Supported Banks
BankScan AI works with all major UK and US banks, including:
Features for CPAs (Certified Public Accountants) — Anti-Money Laundering (AML)
- Built for CPAs (Certified Public Accountants) — Saves an average of 30 minutes per client per engagement on bank statement data entry, or 10+ hours per week during busy season for a firm with 200+ clients
- Software compatible — Output works directly with QuickBooks Online, Sage Intacct, CCH Axcess
- Built for Anti-Money Laundering (AML) — Convert bank statements to searchable, sortable spreadsheets for systematic AML review, transaction pattern analysis, and suspicious activity report preparation.
- Key data extracted — Transactions inconsistent with known client profile, cash deposits near reporting thresholds (structuring), international transfers to high-risk jurisdictions, rapid movement of funds through accounts
Compliance: CPAs (Certified Public Accountants) + Anti-Money Laundering (AML)
When cpas (certified public accountants) prepare bank statements for anti-money laundering (aml), specific compliance requirements apply.
- CPAs must comply with AICPA professional standards and state board licensing requirements. GAAP and GAAS standards govern financial statement preparation and auditing. IRS Circular 230 governs tax practice. Peer review requirements apply to firms performing audits. Client records must be retained per state-specific rules, typically 5-7 years.
- Legal basis: Proceeds of Crime Act 2002 sections 327-329; Money Laundering Regulations 2017 (SI 2017/692); FCA Financial Crime Guide (FCG)
Anti-Money Laundering (AML) — Built for CPAs (Certified Public Accountants)
Suspicious Activity Reports (SARs) should be filed with the NCA promptly; consent SARs require a response within 7 working days plus a 31-day moratorium period
Try Free — CPAs (Certified Public Accountants) + Anti-Money Laundering (AML)