Money Services Industry Update

License Types	As of January 2019	As of January 2018
Money Transmitter - Main	174	161
Money Transmitter - Authorized Delegates	10,927	10,598
Currency Exchanger - Main	8	6
Currency Exchanger - Authorized Delegates	5	4

Important Reminder When Filing Q4 MSB Call Report

Don’t forget this important information when filing the Q4 MSB Call Report (MSBCR).

For all licensees who indicate they transmitted money from the United States to a foreign country or countries, the Q4 filing requires completion of Section IV: Transaction Destination Country Reporting.

When completing the MSBCR, ensure that company-wide destination country details in Section IV of the filing aligns with the volume reported for the year in TA30 and TA40 (total transactions from U.S. States and territories sent to foreign countries). Review your numbers prior to filing and/or make any amendments as necessary to ensure complete and accurate information.

The Q4 filing deadline is February 14, 2019.

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Revised Compliance Deadlines for WAC 208-690-205(2)

DFI extended the period of time to come into compliance with WAC 208-690-205(2).

The guidance extends the compliance dates for certain disclosures for all licensees and for a subset of licensees in a prepaid access program with existing disclosure materials. For all licensees, you must be compliant with WAC 208-690-205(2) as soon as possible or no later than January 31, 2019. For the subset of licensees in prepaid access card programs with existing disclosure materials, you must be compliant no later than April 1, 2019.

View Revised Guidance

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Virtual Currency Licensing

Did you know that as of the end of the year, 20 money transmitter licensees indicated they are involved with virtual currency at the time of application? The Department periodically updates a list of virtual currency licensees.

View Virtual Currency Licensee List

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Reminder –Authorized Delegate Reporting

Don’t forget! Any authorized delegate change must be reported within 30 days of the change. All reporting is done through NMLS.

Authorized Agent Quick Guide

Direct any questions to cslicensing@dfi.wa.gov.

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