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Are all money services businesses required to file Suspicious Activity Reports (SARs)?

April 26, 2017activity businesses file money reports SARS Services suspicious

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Are all money services businesses required to file Suspicious Activity Reports (SARs)?

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No, only money transmitters; issuers, sellers, and redeemers of money orders and traveler’s checks; currency exchangers or dealers; and the United States Postal Service are required to file SARs. Check cashers and issuers, sellers, or redeemers of stored value are not required to file SARs, but they can voluntarily file SARs.