We are in the process of developing procedures for servicing MSB's. I'm inquiring about what other banks are using for documentation in establishing a MSB relationship. I have developed a MSB Owner Questinnaire and BSA Officer Risk Asssessment and would required the evidence of registration. Does anyone require a MSB agreement between the MSB and the bank disclosing what is allowed and not allowed to service them? If so, does anyone have a sample they would not mind in sharing. Anything else being required? Any suggestions of good resources for developing policy and procedures for a Money Service Business program to offer to clients?
The opinions expressed are strictly my own and not necessary those of my employer.