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.
Politically Exposed Persons: Individuals, or their relatives, who are prominent public functionaries.
Electronic funds transfer or EFT refers to the computer-based systems used to perform financial transactions electronically. An EFT is the electronic exchange or transfer of money from one account to another, either within the same...