Burnsville, MN (October 26, 2011) –Pawn America has appointed Barb Walsh to the position of Compliance Officer for the company. Walsh has been with Pawn America for 15 years. She started her newest position as compliance officer this month and has had previous experience in this role for a Pawn America affiliate company, CashPass Network, a prepaid card provider. Walsh’s main duties include administering necessary employee training and federal forms to keep Pawn America compliant to rules and regulations from the following entities:
· OFAC- Office of Foreign Assets Control
OFAC is a division of the US Department of the Treasury. It administers and enforces economic and trade sanctions based on US foreign policy and national security goals against targeted foreign countries and regimes, terrorists, international narcotics traffickers, those engaged in activities related to the proliferation of weapons of mass destruction, and other threats to the national security, foreign policy or economy of the United States.
· AML Compliance- Anti-Money Laundering
In 2001, President Bush signed into law the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT) Act of 2001 (Public Law 107-56). Title III of the Act makes a number of amendments to the anti-money laundering provisions of the Bank Secrecy Act. These amendments are intended to provide additional tools to prevent, detect, and prosecute international money laundering and the financing of terrorism.
Walsh will assure Pawn America’s 450 employees are compliant on these and other necessary measures. The position requires strict adherence and complete organization to meet the standards set by the federal government. “It’s important to make sure we are watching closely for any activity that may be suspicious. In that way we train our employees to act as informants should a situation arise that requires the government to step in. It’s an important position and I am both pleased and proud to take it on,” says Walsh.
