Money Services Businesses (MSBs) are non-bank financial institutions that transmit or convert money. Like banks, they are subject to regulatory review by the Internal Revenue Service (IRS) and must be registered with the Financial Crimes Enforcement Network (FinCEN). They must also comply with the Bank Secrecy Act along with other various state and federal laws and regulations.
You may also like:
Blog
Regulatory Compliance Updates for Banks & Credit Unions – October 2021 Recap
This article highlights key regulatory and compliance updates for banks and credit unions that occurred in October 2021.
Course Update
October 2021 Online Course Updates
A summary of the October 2021 Financial Services online course updates.
Blog
How to be Safer Over Wireless Connections
Security can be the main concern for financial institutions when working on a wireless network. The average individual protects their home wireless network by setting up a password to prevent their neighbors or others from taking control of your data. In a post-pandemic world, where many are still working remotely, we have to be more serious about wireless networking connections.
Blog
Mortgage Industry Updates: Monthly RoundUp – October 2021
Last month involved several industry updates and hot topics in the mortgage industry. We’ve rounded up some key updates and how they will affect you and your financial institution going forward into 2021.