Is your company being asked for a SOC 2 attestation by your customers? SOC 2 stands for Service Organization Control 2, which reports on various organizational controls related to the five Trust Service Criteria: Security, Availability, Processing Integrity, Confidentiality, and Privacy. It is an audit conducted by an authorized CPA firm, adhering to rules and a framework provided by the AICPA (American Institute of Certified Public Accountants).

Most days, a Compliance Officer walks into their office and does one of many routine activities required by the Bank Secrecy Act or the PATRIOT Act. All of that changed on January 1, 2021 when the U.S. Senate voted to supersede former President Trump’s veto of the National Defense Authorization Act; legislators passed it into law and it includes the Anti-Money Laundering Act of 2020 (AMLA).