Compliance Insights: Stay Ahead in the MSB Industry

Expert guidance, regulatory updates, and best practices to help Money Services Businesses navigate compliance, protect banking relationships, and streamline operations. 🚀

Compliance

Two Start-Up MSBs, Zero Findings: How ComplyCheck Helped Florida Check Cashers Ace Their First Examination

At ComplyCheck, we help check cashing businesses launch strong, stay compliant, and pass state exams with confidence. Recently, two Florida startups — one in Broward County ($4M/month) and another in St. Lucie County ($5.5M/month) — underwent their first-ever Florida OFR examinations. ✅ No prior compliance experience ✅ Over 400 corporate customer files combined ✅ No findings in the areas we handled From AML/BSA program creation and CTR/SAR filings to corporate file maintenance and staff training, ComplyCheck provided the expertise they needed to avoid $7,500–$15,000 in fines and protect their licenses.

Compliance

Knowing When to File: SAR Decision-Making Tips for MSBs—and Why Expert Guidance Matters

Filing a Suspicious Activity Report (SAR) isn’t always a clear-cut decision—especially for MSBs juggling complex transactions and unpredictable customer behavior. This post explores how MSBs can make better SAR decisions using context, internal documentation, and expert support. Most importantly, it explains why working with a qualified third-party compliance consultant—like ComplyCheck—can make all the difference between regulatory confidence and costly mistakes.

Compliance

Is Your MSB Compliance Program Actually Ready? Take the Self-Test That Could Save Your Business

Is your compliance program as strong as you think it is? ComplyCheck now offers a free, confidential MSB Compliance Risk Assessment—designed to help money service businesses quickly evaluate their AML/BSA readiness. In just a few minutes, you’ll identify blind spots, assess your audit preparedness, and get a risk score that actually means something. Whether you're in check cashing, money transmitting, or both, this self-test could save your business from regulatory trouble or a lost banking relationship. 👉 Start the Risk Assessment Now

Compliance

The Importance of Good Data: Why Accurate Information is the Backbone of MSB Compliance, Underwriting, and Risk Management

For Money Services Businesses (MSBs), good data isn’t just a regulatory requirement—it’s the backbone of successful compliance, risk management, and business reputation. Accurate and well-maintained data ensures your company can withstand regulatory scrutiny, avoid costly mistakes, and build lasting trust with banking partners and regulators. In the MSB industry, every risk assessment, CTR filing, and customer due diligence process depends on the quality of your data. Don’t leave compliance to chance—make data integrity a daily habit and protect your business from the ground up.

Compliance

Compliance: The Unsung Hero of Check-Cashing Business Profitability

In the check cashing industry, compliance is often seen as just another expense—but that old mindset can cost you far more in the long run. Investing in a robust MSB compliance program isn’t just about avoiding fines and regulatory headaches; it’s a strategic move that can actually save your business money, preserve your banking relationships, and give you a competitive edge. Discover how the right compliance investments pay dividends for your check cashing business—read our latest blog post.

News

Inside the MSB Industry: An Interview with Philip Laufman, Lead Consultant at ComplyCheck

Ever wondered what really keeps check cashing and MSB owners up at night? In our latest in-depth interview, ComplyCheck’s Lead Consultant, Philip Laufman, shares how his hands-on experience as a former MSB operator shapes everything he does for clients today. From surviving late-night audits to helping businesses build bulletproof compliance programs, Philip’s no-nonsense approach is both practical and reassuring. Discover what he believes are the biggest threats—and biggest opportunities—facing MSBs right now, and why he says, “Compliance isn’t just paperwork. It’s your shield.” If you’re looking for honest, actionable insight and a partner who’s been in your shoes, don’t miss this candid conversation.

News

Four Honduran Nationals Indicted In $89 Million ‘Undocumented Workers’ Tax Scheme In Florida

In a recent high-profile case, four individuals were indicted in Florida for operating an unlicensed check-cashing scheme that processed $89 million in fraudulent payroll payments. This case exposes how Money Services Businesses (MSBs) can be exploited without strong compliance controls. Your MSB could be vulnerable too. Do you have robust Enhanced Due Diligence (EDD) protocols in place? Are you confident in your Anti-Money Laundering (AML) program? Don’t wait until it’s too late—protect your business now.

Compliance

Southwest Border Crackdown: FinCEN’s $200 CTR Threshold Will Impact Nearly Every MSB Transaction — Here’s What You Need to Know

FinCEN’s new Geographic Targeting Order (GTO) is now in effect, requiring MSBs in 30 ZIP codes across California and Texas to file CTRs for all cash transactions over $200. For most MSBs, this means reporting 90–95% of their daily transactions. The order is part of a broader national security effort to disrupt cartel financing and introduces steep penalties for noncompliance. ComplyCheck is already helping impacted MSBs respond quickly and correctly. If your business is located near the Southwest Border, this isn’t optional — it’s urgent. Read our full breakdown of the GTO’s requirements, risks, and how ComplyCheck can keep you compliant.

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Ready to Simplify Your Compliance?

Have questions or want to learn more about how ComplyCheck can help your MSB stay compliant? Fill out the form below, and one of our experts will get in touch with you shortly. We’re here to provide personalized guidance for your compliance needs.