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208-630-720  <<  208-630-721 >>   208-630-730

If a licensee is considered a money service business (MSB) under the Bank Secrecy Act (see WAC 208-630-720), what are the minimum requirements for the anti-money laundering program the licensee must develop?

A licensee who qualifies as a money services business under the Bank Secrecy Act must develop, implement, and maintain an effective anti-money laundering program consistent with federal law and the requirements of 31 C.F.R. Section 103.125.
[Statutory Authority: RCW 43.320.040. WSR 07-23-094, § 208-630-721, filed 11/20/07, effective 12/21/07.]