Introductory BSA/AML Examiner School, Providence, RI

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.