VIENNA, Va. – Since its launch exactly one year ago today, more than 18,000 people have subscribed to FinCEN Updates – the Financial Crimes Enforcement Network’s (FinCEN’s) free e-mail subscription management service. As of today, 18,071 members of the financial industry, the media and the…
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The Financial Crimes Enforcement Network is issuing this interpretive guidance to clarify whether a non-bank owner and operator of an automated teller machine (ATM) would be a money services business (MSB) as that term is defined under the Bank Secrecy Act and its implementing regulations.…
Dear [ ]:
I am responding to your letter, dated July 5, 2007, to the Financial Crimes Enforcement Network. You have asked us to determine whether [ ] (the "Company") is a money services business, specifically a check casher as that term is defined in our regulations.
As you…
Dear [ ]:
This letter responds to your request for an administrative ruling, dated June 16, 2007, regarding whether your client, [ ], should be registered as a money services business (MSB). For the reasons set forth below, we have determined that your client’s business is not an MSB,…
Purpose
This document provides guidance interpreting the requirements of the Bank Secrecy Act ("BSA") regulations1 as they apply to the casino and card club industries in the United States.
Section A: 31 C.F.R. § 103.11 Casino and Card…
Las Vegas, NV - Financial Crimes Enforcement Network (FinCEN) Director James H. Freis, Jr. today announced the publication of a detailed set of Frequently Asked Questions (FAQs) developed to assist the casino and gaming industry in complying with its responsibilities under the Bank Secrecy Act (…
Good afternoon. It is a pleasure to be here with all of you today at this important conference. Before I begin my remarks, I would like to first thank Gordon Greenberg for that kind introduction. I am delighted to be speaking at such an event and in the company of such a distinguished group of…
Charlotte, N.C. - In a speech today to the Money Transmitter Regulators Association Annual Conference, James H. Freis, Jr., Director of the Financial Crimes Enforcement Network (FinCEN), announced the availability of a new reference on common errors seen in Suspicious Activity Reports (SARs).…
The Financial Crimes Enforcement Network ("FinCEN") has noticed common errors in the filing of Suspicious Activity Reports ("SARs"). Although these errors were noted primarily through studying Suspicious Activity Reports by Money Services Business (Form 109) filings, we believe that publishing…