Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Programs for Money Services Businesses (MSBs), Mutual Funds, and Operators of Credit Card Systems

31 U.S.C. 5318(h)(1) of the BSA mandates that financial institutions establish AML/CFT programs to guard against money laundering and the financing of terrorism. Such programs must include, at a minimum: (a) the development of internal policies, procedures, and controls, (b) the designation of a compliance officer, (c) an ongoing employee training program, and (d) an independent audit function to test programs. Pursuant to 31 U.S.C. 5318(h)(2), FinCEN issued regulations requiring banks lacking a Federal functional regulator (31 CFR 1020.210(b)), money services businesses (MSBs) (31 CFR 1022.210), mutual funds (31 CFR 1024.210), insurance companies (31 CFR 1025.210), dealers in precious metals, precious stones, or jewels (31 CFR 1027.210), operators of credit card systems (31 CFR 1028.210), and loan or finance companies (31 CFR 1029.210) to develop and implement written AML programs. This supporting statement covers the AML program requirements for MSBs, mutual funds, and operators of credit card systems.

The latest form for Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Programs for Money Services Businesses (MSBs), Mutual Funds, and Operators of Credit Card Systems expires 2027-09-30 and is listed under ICR 202406-1506-003.

Anti-Money Laundering programs for money services business, mutual funds, and operators of credit card systems

Federal Enterprise Architecture: Law Enforcement - Criminal Investigation and Surveillance