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Title: Bank Examiner's AML/BSA/Patriot Act Manual Post by: galambo on July 28, 2012, 06:33:05 PM For those interested parties starting Bitcoin businesses which interface with the outside world I thought I would share this document.
http://www.ffiec.gov/bsa_aml_infobase/documents/BSA_AML_Man_2010.pdf Hopefully, this will help you stay within the letter of the law and avoid complications. Title: Re: Bank Examiner's AML/BSA/Patriot Act Manual Post by: Yankee (BitInstant) on July 29, 2012, 05:37:45 PM Thanks for the share dude!
Title: Re: Bank Examiner's AML/BSA/Patriot Act Manual Post by: galambo on July 30, 2012, 04:00:00 AM Thanks Charlie. Your methods are the best I've seen so far.
Minimizing the amount of time you are in custody of money reduces both risk for your business and the customers. Also, using cash handlers who have established BSA policies and procedures helps reduce the number of regulatory hurdles the industry has built around itself. |