Introductory BSA/AML Examiner School, Atlanta, CA
MSB BSA requirements
• Register with FinCEN
• Develop and Implement an AML Compliance Program
• File SARs, CTRs, CMIRs, and FBARs
• Recordkeeping requirements
• Respond to Law Enforcement Inquiries
Registration
Principal Money Transmitter Registration Requirement – Initial registration period 180 days after business was established or began money transmission activity. – Renewal process is every two years. – Re-Registration requirement • Change in ownership or control under state law. • Transfer of more than 10% of the voting power. • Increase of 50% in agents. • Required within 180 days after change requiring re-registration.
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