Introductory BSA/AML Examiner School, Providence, RI

MSB Risk Assessment

• Not all MSBs pose the same level of risk. • Not all MSBs require the same level of due diligence or enhanced due diligence. • All MSB customers should be assessed for risk to determine the minimum due diligence required.

Risk Factors • Cash intensive business. • Recordkeeping may be limited. • Lack ongoing customer relationships and require minimal or no identification by customers. • Are subject to varying levels of regulatory requirements and oversight. • Can quickly change their product mix or location and quickly enter or exit an operation. • Sometimes operate without proper registration or licensing.

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