USA: FinCEN launches new MSB form
FinCEN, the USA's financial intelligence unit, has reminded MSBs that there are special reporting forms for money services businesses.
The forms issued in October 2002 forms should be used but, FinCEN say, some MSBs are using the form originally designed for banks.
To an extent, this is FinCEN's own fault as it had required MSBs to make suspicion transaction reports but had not put the systems in place for some time.
However, despite considerable publicity being given to the new forms it seems that users are resistant to change.
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