Pawn Shops – Gilbert Reese

A pawn shop or pawn broker is an individual or business that offers secured loans to people, with items of personal property used as collateral.

Pawn Shops, as money service businesses (MSBs) are required by FinCEN to implement effective Bank Secrecy Act (BSA)/Anti Money Laundering (AML) Compliance Programs to prevent their businesses from being used to facilitate money laundering and terrorist activities.

Gilbert Reese provides employee training and Certification for all pawn shops and their employees to meet BSA regulatory requirements.

As part of our comprehensive licensing services, we assist pawn shops in obtaining required permits, licensing and registration required for their businesses. Financial institutions often make it a pre-requisite for account opening, that pawn shops must have their compliance programs independently reviewed by a third party. We will review your program; where one exists, or help you build a compliance program that satisfies regulatory requirements.