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Category Archives: Uncategorized

FinCEN Assesses Civil Money Penalty Against Michigan-Based Unregistered Money Transmitter

Vienna, Va. – The Financial Crimes Enforcement Network (FinCEN) today announced an assessment of civil money penalties totaling $40,000 against brothers Omar Abukar Sufi and Mohamed Abukar Sufi, for non-compliance with Bank Secrecy Act (BSA) money transmitter registration requirements. The Sufi brothers, doing business as Halal Depot of Wyoming, Michigan operated a money transmission business […]

List of Registered Money Services Business with FINCEN

The Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) makes available a new list of registered money services businesses. The list provides information per state/territory and reflects information provided by filers.

MTRA Holds Another Successful Conference

MTRA’s 20th Annual Conference was held August 30 – September 2, 2010 at Squaw Creek Conference Center, Olympic Village, California. More than 180 regulators and industry officials attended the four day event, representing 26 member states and over 55 money transmitters across the country. The conference was opened by MTRA President Joseph E. Rooney of Maryland who gave an in memoriam address about MTRA founder Nannette Smith, who passed away earlier this summer. California Commissioner William Haraf welcomed the conferees to California.

MTRA Holds Operations School In Florida

MTRA conducted its 2010 Operations School on March 1 – 5 at the Florida Hotel & Conference Center in Orlando, Florida. Thirty-two examiners from thirteen states attended this school with the host state of Florida sending nine students.

MTRA / CSBS Comment on FINCEN’s Proposed Rulemaking

The Money Transmitter Regulators Association (MTRA) and the Conference of State Bank Supervisors (CSBS) issued a joint comment letter in response to FinCEN’s Notice of Proposed Rulemaking to the Definitions and other Regulations relating to Money Services Businesses.