Money Service Business KYC: FinCEN, FCA & Local Licensing Rules
MSBs face dual regulation: the licensing regime and the AML regime. This guide maps both for 2026.
Money service businesses and money transmitters sit at the intersection of payment regulation and AML law. In most jurisdictions they need both a licence and a compliance programme, and the KYC requirements are stricter than general retail.
US: FinCEN and state MSB rules
FinCEN requires MSBs to register, implement an AML programme, and verify customers under the BSA. State-level money transmitter licences add additional KYC and net-worth requirements.
UK and EU
The FCA and national AML regulators require MSBs to apply risk-based KYC, including enhanced due diligence for high-risk customers and corridors. Thresholds vary by member state.
How we help MSBs comply
Our document, address, and AML products handle customer verification, while our ongoing monitoring tracks sanctions and typology changes across your customer book.
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