Global Payments: Understanding the Basics of Anti-Money Laundering and State Licensing

Considering the fast advancement of financial innovation, the MSB Best Practices address how the payments industry protects the US financial system and consumers from money launderers, sanction evaders, human traffickers, and fraudsters. These best practices serve as a blueprint for established firms and new market entrants in managing risks so that payments can be securely and safely sent and received. The best practices recommend using a risk-based approach to guide any MSB involved in any activity.