May 2016

The original list of agents and each revised list must be retained for a period of five years from the due date for preparation of the list.

31 CFR 1022.380(d), 1010.430(d) (formerly 31 CFR 103.41(d), 31 CFR 103.38(d)(1))

Upon request, an MSB must make its list available to FinCEN and any other appropriate law enforcement agency (including, without limitation, the examination function of the Internal Revenue Service in its capacity as delegee of Bank Secrecy Act examination authority). Requests for agent list information must be coordinated through FinCEN in the manner and to the extent determined by FinCEN.

31 CFR 1022.380(d)(1) and (d)(2)(ii) (formerly 31 CFR 103.41(d)(1) and (d)(2)(ii))

The registration rule includes the following requirements:

NEW KEY-Form 107 (effective on 3/2012)

MSBs Subject to the SAR Requirement - A person that is any one or more of the following types of MSB is subject to the suspicious activity reporting (SAR) requirement:

Money transmitter
Currency dealer or exchanger
Money order - issuer, seller and redeemer
Traveler’s check - issuer, seller and redeemer
U.S. Postal Service

The SAR requirement does not apply to the following types of MSB:

The agent list must be maintained at a location in the United States. The location must be reported on the registration form and must be either the address of the MSB reported on the form (in Part I, Registrant Information) or another address reported on the form (in Part V, Location of Supporting Documentation).

31 CFR 1022.380(d)(1) (formerly 31 CFR 103.41(d)(1))

 Overall authority for enforcement and compliance, including coordination and direction of procedures and activities of all other agencies exercising delegated authority, has been delegated by the Secretary of the Treasury to the Assistant Secretary of the Treasury (Enforcement). FinCEN has been designated by the Assistant Secretary of the Treasury (Enforcement) to administer the Bank Secrecy Act.

See 31 CFR 103.56(a)

The Internal Revenue Service has been delegated authority to examine certain financial institutions, including money services businesses, to determine compliance with requirements of the Bank Secrecy Act.

31 CFR 103.56(b)(8)

Each Agent - A registering Money Services Business (MSB) must include each agent that the MSB has authorized to sell or distribute its MSB services. The term "MSB services" refers to the following financial products and services: money orders, travelers' checks, money transmission, check cashing, currency exchange and currency dealing.

Disclosure Prohibited - MSBs (including any director, officer, or employee of MSBs) are prohibited from disclosing to a person involved in the transaction that a suspicious activity report (SAR) has been filed. The disclosure prohibition includes providing any information that would disclose that a SAR has been filed.