U.S. flag

An official website of the United States government

Guidance

Guidance is intended to clarify obligations or respond to questions of general applicability that arise under the Bank Secrecy Act and implementing regulations at 31 CFR Chapter X. FinCEN alerts, advisories, notices, bulletins, and fact sheets are located here. Guidance regarding beneficial ownership reporting requirements under the Corporate Transparency Act can be found here. Other information pertaining to the Anti-Money Laundering Act of 2020 is available here.

| Depository Institutions
Whether a Person That is Engaged in the Business of Foreign Exchange Risk Management is a Currency Dealer or Exchanger or Money Transmitter

Dear [ ]:

I am responding to your letter of September 2, 2005 to [the Financial Crimes Enforcement Network]. You seek a determination as to whether your client, [ ] (the "Company") is a money services business, specifically a currency dealer or exchanger or a money transmitter, as those…

| Depository Institutions
Whether a Foreign Exchange Dealer is a Currency Dealer or Exchanger or Money Transmitter

Dear [ ]:

I am responding to your letter of June 29, 2007 to [the Financial Crimes Enforcement Network]. You have requested a ruling as to whether your client, [Forex Company], is a money services business, specifically a currency dealer or exchanger or a money transmitter, as those…

| Depository Institutions
Whether Certain Reloadable Card Operations are Money Services Businesses

This letter is in response to a request from [Service Company], a subsidiary of [Parent], dated June 6, 2007, to the Financial Crimes Enforcement Network (FinCEN) for an administrative ruling concerning the treatment under the Bank Secrecy Act (BSA) provisions applicable to money services…

| Precious Metals/Jewelry Industry
Guidance for Dealers, Including Certain Retailers, of Precious Metals, Precious Stones, or Jewels, on Conducting a Risk Assessment of Their Foreign Suppliers

The Financial Crimes Enforcement Network ("FinCEN") is issuing this guidance clarifying the risk assessment required to be performed under the Interim Final Rule requiring anti-money laundering programs for dealers in precious metals, precious stones, or jewels ("Interim Final Rule").1…

| Securities and Futures
Customer Identification Program Rule No-Action Position Respecting Broker-Dealers Operating Under Fully Disclosed Clearing Agreements According to Certain Functional Allocations

In the securities brokerage industry, certain broker-dealers ("introducing firms") enter into clearing agreements with other broker-dealers ("clearing firms") according to the provisions of the rules of a broker-dealer self-regulatory organization, which permit the introducing firm and clearing…

| Depository Institutions, Securities and Futures
Application of Correspondent Account Rules to the Presentation of Negotiable Instruments Received by a Covered Financial Institution for Payment

The Financial Crimes Enforcement Network ("FinCEN") is issuing this interpretative guidance to clarify how our rules implementing section 312 of the USA PATRIOT Act (the correspondent account rule) apply to a covered financial institution presenting a negotiable instrument for payment to another…

|
Reporting of Certain Currency Transactions for Sole Proprietorships and Legal Entities Operating Under a "Doing Business As" ("DBA") Name

The Financial Crimes Enforcement Network ("FinCEN") is issuing this administrative ruling to clarify the currency transaction report ("CTR") filing obligations when reporting transactions involving sole proprietorships. Subsequent to a prior ruling on this issue,1 FinCEN received…

| Depository Institutions, Money Services Businesses
Application of the Definition of Money Services Business to Certain Owner-Operators of Automated Teller Machines Offering Limited Services

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.…

| Depository Institutions
Whether a Business that Cashes Checks Payable to Customers to Apply Proceeds to the Repayment of Customers’ Obligations is a Money Services Business

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,…

| Depository Institutions, Money Services Businesses
Whether a Publicly Traded Company that Cashes its own Checks Issued to Loan Customers is a Money Services Business

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…