April 2014

Application of Money Services Business Regulations to a Company that Offers Escrow Services to a Buyer and Seller in a Given Internet Sale of Goods or Services

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Whether a Company that Offers Secured Transaction Services to a Buyer and Seller in a Given Sale of Goods or Services is a Money Transmitter

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Whether a Company that Provides Online Real-Time Deposit, Settlement, and Payment Services for Banks, Businesses and Consumers is a Money Transmitter rather

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Application of Money Services Business regulations to the rental of computer systems for mining virtual currency

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Whether a Company that Provides an Armored Car Coin and Currency Exchange Service is a Money Transmitter and Whether the Armored Car Service Exemption Would Apply to the Service

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Jennifer Shasky CALVERY, DIRECTOR, FINANCIAL Crimes Enforcement Network U.S. Department of the Treasury

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Good afternoon. I am Jennifer Shasky Calvery, Director of the Financial Crimes Enforcement Network at the U.S. Department of the Treasury.

I would first like to thank Preet Bharara and the U.S. Attorney’s Office for the Southern District of New York, as well as our colleagues in the Office of the Comptroller of the Currency, for their coordination with FinCEN on today’s actions.

Today, JPMorgan has admitted its failure to report the Madoff Ponzi scheme to FinCEN and that its conduct violated the Bank Secrecy Act.