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MSB - Out of Country Wire Transfers

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If there is a customer that does less than 1,000 dollars of check cashing per day per customer, but transfers money out of the country using an outsourced wire transfer company, how would the bank need to hand this? Would it be an MSB? Does the bank have any risk associated with the wire transfers that it does not perform?

I think we would need more information on what is the definition of an "outsourced wire transfer company".

First published on 10/01/07

First published on 10/01/2007

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Filed under security as: 

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