Introductory BSA/AML Examiner School, Atlanta, CA

Bank Exam Procedures

• Many MSBs cannot be designated as exempt from filing Currency Transaction Reports.

• Financial Institutions must substantiate the decision to exempt an MSB customer from currency transaction reporting, demonstrating that no more than 50% of the MSB’s revenues are derived from ineligible business activities

• 31 CFR 1020.315(e)(8) lists the types of ineligible businesses.