Skip to content
BOL Conferences Top Gun 23
Thread Options
#545967 - 05/10/06 04:30 PM MSB Registration List
CrashDavis Offline
Gold Star
Joined: Jun 2005
Posts: 283
I went to MSB.gov to verify that a business has registered as a MSB. I noticed the last update was October 2005. How often do they update this list?

Return to Top
BSA/AML/CIP/OFAC Forum
#545968 - 05/10/06 04:36 PM Re: MSB Registration List
devsfan Offline
Diamond Poster
Joined: Jun 2004
Posts: 1,927
NYC
Do you mean that if an examiner saw that you had last updated your list of high risk accounts in October 2005 they would not be satisfied?

Return to Top
#545969 - 05/10/06 04:41 PM Re: MSB Registration List
CrashDavis Offline
Gold Star
Joined: Jun 2005
Posts: 283
No, I just identified a customer as a MSB and went to the website to determine if they had already registered. If they had I would send a letter requesting for a copy of acknowledgement for my file. If they had not registered I would send another type letter explaining what they need to do.

Return to Top
#545970 - 05/10/06 05:52 PM Re: MSB Registration List
Anonymous
Unregistered

When I called them and asked the same question, how often is this list updated, they told me twice a year, in October and April. Well April has come and gone, so don't know now when there will be an updated list.

Return to Top
#545971 - 05/10/06 09:20 PM Re: MSB Registration List
GenerousLife Offline
Diamond Poster
Joined: Feb 2002
Posts: 1,466
USA
Also, there is a disclosure with the list that says you are not to rely on the accuracy of the list.

Part of my problem is that you might be looking for "Joe's Convenience Store" and it is actually listed under "Bridge Enterprises". Or you might look for everything in your city to find the listing, but the actual listing is in the home city of the corporation, maybe even in another state.

There are some holes in the system, so your reliance is ultimately on the documentation that the customer provides.

Sigh ....
_________________________
"No problem can withstand the assault of sustained thinking." ~ Voltaire
"Sustained thinking gives me a headache." ~Me

Return to Top

Moderator:  Andy_Z