Money transmission is the act of transmitting or transferring money or other financial instruments from one person or entity to another. This can be done through various methods such as wire transfer, cashier’s check, money order, or electronic payment systems.…
A money services business, or MSB, is a term used by the Financial Crimes Enforcement Network (FinCEN) to describe a business that provides certain financial services. These services may include activities such as money transmission, currency exchange, and the issuance…
A money transfer operator (MTO) is a type of money services business (MSB) that specializes in facilitating the transfer of money from one location to another. MTOs are typically licensed and regulated by a government agency to provide financial services…