![]() If a money services business registered as such under the laws of any State experiences a change in ownership or control that requires the business to be re-registered under State law, the money services business must also be re-registered under this section. However, registration would be required if the supermarket corporation, in addition to acting as an agent of an issuer of money orders, cashed checks or exchanged currencies (other than as an agent for another business) in an amount greater than $1,000 in currency or monetary or other instruments for any person on any day, in one or more transactions. For example, a supermarket corporation that acts as an agent for an issuer of money orders and performs no other services of a nature and value that would cause the corporation to be a money services business, is not required to register the answer would be the same if the supermarket corporation served as an agent both of a money order issuer and of a money transmitter. A person that is a money services business solely because that person serves as an agent of another money services business, see § 1010.100(ff) of this chapter, is not required to register under this section, but a money services business that engages in activities described in § 1010.100(ff) of this chapter both on its own behalf and as an agent for others must register under this section. ![]() Special Standards of Diligence Prohibitions and Special Measures for Money Services Businesses ![]() Voluntary information sharing among financial institutions. Special information sharing procedures to deter money laundering and terrorist activity for money services businesses. Special Information Sharing Procedures To Deter Money Laundering and Terrorist Activity Records Required To Be Maintained By Money Services BusinessesĪdditional records to be made and retained by dealers in foreign exchange.Īdditional records to be maintained by providers and sellers of prepaid access. Registration of money services businesses. ![]() Reports by money services businesses of suspicious transactions. Reports Required To Be Made By Money Services Businesses Anti-money laundering programs for money services businesses. ![]()
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