BSA Requirements for MSBs

​Unauthorized Disclosure of SuspiciousActivity Reports (8/18/04)

• MSB Independent Reviews
• MSB Registration
• MSB Registration Renewal Calculator
• MSB Agent List
• MSB Suspicious Activity Reporting
• Establish a written Anti-Money Laundering program (31 CFR § 1022.210)
• Currency Transaction Report (31 CFR § 1010.311)
• Records to be made and retained with respect to the transmittal of funds (§ 1010.410(e)
• Records to be maintained for purchases of bank checks or drafts, cashier’s checks, money order or traveler’s checks for $3,000 or more in currency. (31 CFR § 1010.415)
• Additional records to be maintained by prepaid access providers and sellers to collect and retain certain transactional records relating to prepaid access. (31 CFR § 1022.420)
• Additional records to be maintained by prepaid access providers and sellers to collect and retain customer information relating to prepaid access (31 CFR § 1022.210(d)(1)(iv))
• Foreign located MSBs to designate a person who resides in the U.S. to function as an agent to accept service of legal process, including with respect to BSA compliance (31 CFR 1022.380(a)(2))
• Nature of records and retention period (31 CFR § 1010.430)