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FinCEN MSB Definition for Transactions Under $1000 Per Person Per Day

If you do transactions less than $1000 per day per person, as per FinCEN’s definition, you are NOT an MSB. Is that really the case? If you are below this threshold per person per day, are you NOT a Money Services Business? Really? The FinCEN MSB Definition is provided at: https://www.fincen.gov/money-services-business-definition. Transcript: Hello. My name …

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Why Do You Need A Money Transmitter License If You Are Licensed Outside The US?

Did you know that if you are a money transfer company or a bank or even a fintech operating OUTSIDE the United States and you sign-up a US Customer, you are violating a serious US law? The US Government makes no distinction between companies outside the US border to those that operate within the US …

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