Glossary

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.

Related Terms

  • Red Flag

    A potentially suspicious or money laundering situation raises a Red Flag or warning signal.

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  • Know Your Business (KYB)

    Know Your Business is the due diligence review of your business and industry which when reviewed against Money Laundering techniques allows you to develop policies and assess suspicious activities or transactions.

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