Introductory BSA AML Examiner School Manual Palm Springs 2019

Money Transmitters

• State Regulatory

– 48 states, plus DC, VI, GU and PR • State Regulatory Scope – Application – Licensing – Examination – Reporting – Disclosures – Renewals • Federal Regulatory – IRS has been delegated authority to conduct federal examinations of money transmitters.

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Prepaid Access Cards and MSBs

Definition:

An access to funds or the value of funds that have been paid in advance and can be retrieved or transferred at some point in the future through an electronic device or vehicle, such as a card, code, electronic serial number, mobile identification number, or personal identification number.

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