Does anyone know what these companies do and if there is any BSA guidance out there. Over the weekend someone wanted to open an account that does this and I need to figure out what the heck they are and BSA risks!
I would be very, very careful is I were you. You might want to read this first. http://www.usdoj.gov/opa/pr/2007/April/07_crm_301.html In this case, it was E-Gold, but that is a form of e-currency, and according to FinCEN and others, there is huge potential for money laundering in e-currency.
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