The Money Service Business in the USA: How to Comply with Federal and State Laws and Regulations and Maintain Good Relationships with Banks

Author: Mary-Jo LaHood, CAMS-Audit

Money transmission businesses are taking the next step into the 21st century with more advanced technology. The remittance is navigating from the traditional way of transferring money at the agent’s physical locations to cyber channels.

Migration for work in the 21st century has become a popular way for individuals in developing countries to obtain sufficient income for survival. The service is largely dependent on the several factors.

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