1 Report on Outreach to Money Services Businesses ... - FinCEN

Financial Crimes Enforcement Network
Once the MSBs were identified, we sent a letter to the appropriate senior official
within each MSB to outline the goals of the FinCEN outreach initiative and invite
the MSB’s voluntary participation.
Between March and September 2009, interdisciplinary teams from FinCEN
visited nine MSBs in conjunction with this outreach effort. The remaining MSBs
were not visited, either because of scheduling difficulties or other extenuating
circumstances.
Although FinCEN reached out generally to these financial institutions to
participate in the outreach initiative, each MSB was asked to develop its own
agenda for the meeting. Accordingly, the topics covered and issues discussed with
each MSB varied.
This report summarizes the information gathered by FinCEN during the course of
the outreach to the nation’s largest MSBs. In order to safeguard the proprietary
business information provided by the MSBs, no company names are used within
this report.
FinCEN would like to express its appreciation to all the MSBs and the staff that
devoted their time and effort to participate in this outreach initiative. FinCEN
team members found all of the meetings to be very informative and valuable to
furthering FinCEN’s broader mission of enhancing U.S. national security, deterring
and detecting criminal activity, and safeguarding financial systems from abuse by
promoting transparency in the U.S. and international financial systems.
<strong>Report</strong> on Outreach to Money Services Businesses
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