Money Services Business (MSB)
Money Services Business is a legal term defined by federal law and regulation. Part of a 1999 ruling revising the regulatory definitions of certain non-bank financial institutions for purposes of the Bank Secrecy Act (BSA). This include non-bank financial institutions, currency dealers, exchange companies and travelers check issuers.
Office of Foreign Assets Control. A US regulatory Agency that is responsible for monitoring funds held or transferred to illegal entities. The OFAC list is a list of companies/individuals that should be prevented from sending/receiving...
Any public or private bank, credit union, or savings and loan, subject to national and state banking laws, and capable of both accepting deposits and making loans. These institutions collect funds from the public or...