Quarterly MSB newsletter, Issue 1 (Jan.-Mar. 2013)

Georgia Department of Banking & Finance ~ Non-Depository Financial Institutions Division
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Inside this Issue:
FinCEN E-Filing 2 System
Upcoming Check 3 Cashing Classes
Forgot My 4 Password Retrieval
Upcoming 2013 4 State Holidays
Check Casher 5 Activity for the 1st
Quarter
Check Seller / 7 Money Transmitter Activity for the 1st
Quarter
Contact 8 Information

Anti-Money Laundering (AML)
All licensees and registrants who are an MSB by definition under federal law are required under the Bank Secrecy Act (BSA) and Department Rule 80-3-1-.03 to develop and implement an AML compliance program.
Each program must be commensurate with the risks posed by the location, size, nature and volume of the financial services provided by the MSB. An effective program is one designed to prevent the MSB from being used to facilitate money laundering.
Each AML compliance program must be in writing and must:
Incorporate policies, procedures and internal controls reasonably designed to
assure compliance with the Bank Secrecy Act (BSA);
Designate a compliance officer responsible for day-to-day compliance with
the BSA and the compliance program;
Provide education and/or training of appropriate personnel; and
Provide for independent review to monitor and maintain an adequate
program.
Licensees have repeatedly asked what they can do about training for AML. The Department recommends that licensees review their AML policy and ensure that all owners and employees understand the policy and sign and date a document acknowledging their reading and understanding of the policy. In addition, the Department recommended that licensees read newsletters and information found on its website, the Financial Crimes Enforcement Network's (FinCEN) website and the IRS website. FinCEN has a lot of material on its website that can be used for guidance and internal training of MSB owners and employees.

"Safeguarding Georgia's Financial Services"

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1st Quarter 2013

Financial Crimes Enforcement Network (FinCEN) E-Filing System

TIME HAS RUN OUT, ARE YOU PREPARED?
Are you electronically filing your Bank Secrecy Act (BSA) Reports? On February 23, 2012, the Financial Crimes Enforcement Network (FinCEN) issued a Final Notice requiring the electronic filing of most BSA reports by July 1, 2012.

MANDATED ELECTRONIC FILING
Electronic filing of most BSA reports became mandatory on July 1, 2012;
Institutions currently filing BSA reports in paper format are out of compliance with FinCEN's reporting requirements and may be subject to civil money penalties;
There are also new FinCEN report formats that are only available through E-Filing and must be used beginning April 1, 2013. If you have not already done so, we encourage you to adopt the new report formats as soon as possible.

ELECTRONIC FILING THROUGH THE BSA E-FILING SYSTEM INCLUDES:
Suspicious Activity Reports Currency Transaction Reports Registrations of MSBs
For more information about BSA E-Filing, which is a free service, please review the EFiling Section on FinCEN's website. For general questions relating to the requirement to file electronically please contact FinCEN's Regulatory Helpline at 1-800-949-2732. For technology-related questions specific to EFiling, please call the BSA E-Filing Help desk at 1-866-346-9478.

1st Quarter 2013

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Upcoming Check Cashing Classes
On Tuesday, April 9, 2013, from 10:00 a.m. to 11:30 a.m., Deputy Commissioner for Non-Depository Financial Institutions, Rod Carnes, and Financial Examiner, Teresa Koeppel, will be conducting a check cashing class at State Offices South at Tift College, Forsyth, Georgia. There is no cost for the class. The following topics will be covered: Check casher laws and regulations, the Bank Secrecy Act (BSA) and Anti-Money Laundering requirements. If you have not already made a reservation to attend, please contact Teresa Koeppel ASAP at tkoeppel@dbf.state.ga.us to confirm your attendance.
Location of the class:
STATE OFFICES SOUTH AT TIFT COLLEGE 300 Patrol Road Forsyth, GA 31029
During 2013, the Department will continue to hold a class at its main office every other month that is open to all check cashers. The class benefits first-time check cashers and veteran check cashers. Classes are scheduled on Tuesdays at 10:00 a.m. and generally last about an hour and a half. There is no cost for the class and it is a great way to learn about Georgia law, Department regulations, the Bank Secrecy Act (BSA) and Anti-Money Laundering requirements. During examinations, those who have attended the class have stated that the knowledge and information they gained helped prevent violations and avoid the imposition of fines. As a further benefit, the Department provides a certificate of attendance that licensees may use as evidence of training received on BSA and Anti-Money Laundering.
Upcoming 2013 Check Casher Class Dates and Times*
Tuesday, May 21st, 10:00 AM Tuesday, July 16th, 10:00 AM Tuesday, September 17th, 10:00 AM Tuesday, November 19th, 10:00 AM
The classes are limited to a maximum of seven attendees, so you must make an advance reservation for a seat by calling 770-986-1639 or emailing tkoeppel@dbf.state.ga.us at least five days before the class is held. Reserve your seat NOW! We look forward to seeing you.

* Please note that the class schedule is subject to change.

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1st Quarter 2013

DID YOU FORGET YOUR PASSWORD?
Whether you are renewing your license or registration, updating contact information, retrieving a copy of your license or registration, or paying fines and/or fees, if you are a licensed or registered as a check casher, check seller or money transmitter with the Department, you will eventually need to access one of our secure online payment or renewal sites.
The Department has a password retrieval site for MSB licensees and registrants who have forgotten their login information. https://bkgfin.dbf.state.ga.us/MSBForgotPassword.html
A link to the password retrieval site is provided from the various online process and payment websites for MSBs. Once a license or registration number is entered and verified through the site, the password is sent to the primary e-mail address on file for the license or registration. If the primary contact information for a license or registration has changed, please contact msb@dbf.state.ga.us.

Holiday Name
Confederate Memorial Day Memorial Day Independence Day Labor Day Columbus Day Veterans' Day Thanksgiving Day
Christmas Day

Upcoming 2013 State Holidays
Date Observed
April 22nd Monday May 27th Monday July 4th Thursday September 2nd Monday October 14th Monday November 11th Monday November 28th Thursday Lee's Birthday will be observed on Friday, November 29th December 25th Wednesday Washington's Birthday will be observed on Tuesday, December 24th

1st Quarter 2013

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Department Contact Information

NAME Teresa Koeppel, Administrative Examiner (Check Sellers/Money Transmitters)
Susan Nelson, Applications Analyst (Check Cashers)

E-MAIL ADDRESS tkoeppel@dbf.state.ga.us
nelson@dbf.state.ga.us

1st Quarter 2013
PHONE# (770) 986-1639 (770) 986-1652

Corresponding with the Department
When corresponding with the Department, e-mail communication is preferred. Providing written details in the email regarding any questions or concerns you may have allows the Department to forward the request to the appropriate person who handles that area, and if sufficient details are included in the request, that person can then more efficiently provide you with an answer. The main Division e-mail address is msb@dbf.state.ga.us.
Since the Department's main method of communicating with licensees/registrants is via e-mail, it is very important that you supply the Department with a valid e-mail address and that you keep us informed if your email address changes. Please be sure that your e-mail account does not divert Department e-mail to your spam or junk folder.

1st Quarter 2013
Georgia Department of Banking and Finance
2990 Brandywine Road Suite 200
Atlanta, Georgia 30341-5565
Phone: (770) 986-1633 Fax: (770) 986-1655 or 1029 Email: msb@dbf.state.ga.us
We're on the Web! dbf.georgia.gov

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The Department is the state agency that regulates and examines banks, credit unions, and trust companies chartered by the State. The Department also has regulatory and/or licensing authority over mortgage brokers/processors, lenders and loan originators, money service businesses, internaonal banking organizaons, and bank holding companies
conducng business in Georgia.
Our MISSION is to promote safe, sound, compeve financial services in Georgia through innovave, responsive regulaon and supervision.
Our VISION is to be the best financial services industry regulator in the country Progressive. Proacve. Service-Oriented.

Sign-up to Receive this Publication
This quarterly publication is delivered to interested parties via e-mail and is also available from the Department's website at: http://dbf.georgia.gov under Publications, MSB Newsletter. If you would like to be added to our distribution list, send an email to dbfpress@dbf.state.ga.us stating your name and e-mail address. Please be sure to include "Subscribe to MSB Newsletter" in the Subject line.