Introductory BSA/AML Examiner School, Providence, RI

Money Transmitters

Business Model – Agent included

Money  Transmitter

Receiving  Agent

Branch or  Agent

Sender

Recipient

MSB Examinations

• IRS examines for BSA compliance • States examine for financial safety and soundness, as well as BSA compliance – More emphasis on financial safety and soundness – May not examine for all financial services • IRS and States use the Bank Secrecy Act/Anti- Money Laundering Examination Manual for Money Services Businesses