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.