You have to access the risk of doing business with an MSB such as looking a the types of services offered, whether it is a principal (with a fleet of agents) or an agent itself, whether it is new or established business and whether the money services is the primary part of the business, what locations/markets it serves, anticipated account activity, and the purpose of the acct. There is a great guide on FinCEN (dated 4-26-05) for assessing risk on MSBs.
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