Number of Licensees
Number of licensees as of February 2025.
| License Types | As of February 2025 | As of February 2024 |
|---|---|---|
| Money Transmitter- Main | 245 | 251 |
| Money Transmitter-Authorized Delegates | 9,768 | 9,720 |
| Currency Exchanger- Main | 4 | 4 |
| Currency Exchanger-Authorized Delegates | 5 | 5 |
BSA/AML Self-Assessment Tool
The Bank Secrecy Act and related federal and state law requirements are critical components of money services businesses (MSBs). MSBs play a vital role in minimizing money laundering, terrorist financing, and financial crimes. To prevent MSBs’ products and services from being used for illicit activities, these businesses are required to identify and assess the risks, and ultimately create a compliance program based on the risk assessment.
The Conference of State Bank Supervisors (CSBS) offers a BSA/AML Self-Assessment Tool to assist financial institutions in evaluating risks associated with MSBs. This tool provides a structured framework to assess various risk factors, including transaction volume, customer profiles, geographic exposure, and compliance practices. By using this tool, MSBs can proactively identify potential vulnerabilities and strengthen their risk management strategies, ensuring compliance with state and federal regulations. This tool is designed to support MSBs by enhancing their oversight to mitigate risks effectively.
Whether the company is new or an established MSB, leveraging this resource can improve the MSB’s ability to navigate the regulatory expectations and safeguard their operations against financial crimes. To access the BSA/AML Self-Assessment Tool, visit the CSBS website Money Services Business BSA/AML Self-Assessment Tool.
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.