How does an MSB comply with the law?
The MSB needs to file FinCEN Form 109 (PDF), Suspicious Activity Report by Money Services Business, within 30 calendar days of the suspicious transaction. If the MSB suspects that a customer’s transactions may be linked to terrorist activity, the MSB should immediately call the Financial Institutions Hotline at (800) 556-3974. In addition, an appropriate law enforcement official should be informed in situations that require immediate attention.
