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As the deadline noted above is approaching, it is critical that current magnetic media filers transition to the BSA E-Filing System as soon as possible. Any magnetic media submissions received after the December 31, 2008 deadline will be considered an indicator of non-compliance…

VIENNA, Va. – The Financial Crimes Enforcement Network (FinCEN) announced today the release of a manual to provide guidance to officials examining money services businesses (MSBs) for compliance with the requirements of the Bank Secrecy Act (BSA). Several organizations…

VIENNA, Va. – The Financial Crimes Enforcement Network (FinCEN) announced today the submission to the Federal Register for publication of its final rule that simplifies the current requirements for depository institutions to exempt their eligible customers from currency…

Registration Renewal Deadline for Certain Money Services Businessesis December 31, 2008

If your business is registered as a money services business (MSB), and you have continued to operate as an MSB, you must renew your registration by December 31 every two years (after…

In keeping with its efforts to make Bank Secrecy Act (BSA) filing requirements more secure, efficient, and effective, the Financial Crimes Enforcement Network (FinCEN) announced in July its intention to retire the BSA Magnetic Media Filing Program. Current Magnetic Media filers must transition…

On November 15, 2008, FinCEN will deploy new system enhancements to the Batch Validation process of the Bank Secrecy Act Electronic Filing System (BSA E-Filing). The goal of these enhancements is to improve BSA data quality by providing detailed error notifications to filers upon submission,…