Alerts

FinCEN Announces Release of Manual to Aid Examiners of Money Services Businesses

December 10, 2008

On Dec. 9, 2008, the Financial Crimes Enforcement Network (“FinCEN”) announced the release of a manual (the “Manual”) to provide guidance to officials examining money services businesses (“MSBs”) for compliance with the requirements of the Bank Secrecy Act (“BSA”). The Manual is modeled on the BSA/Anti-Money Laundering (“AML”) Examination Manual (last issued by the Federal Financial Institutions Examination Council in August 2008) and serves to centralize the applicable guidance for MSB examiners.