An EmpaSys™ payment agent merchant is considered a Money Services Business as outlined by the Financial Crimes Enforcement Network (FinCEN).

As reflected in its name, the Financial Crimes Enforcement Network (FinCEN) is a network, a means of bringing people and information together to fight the complex problem of money laundering. Since its creation in 1990, FinCEN has worked to maximize information sharing among law enforcement agencies and its other partners in the regulatory and financial communities. Working together is critical in succeeding against today's criminals. No organization, no agency, no financial institution can do it alone. Through cooperation and partnerships, FinCEN's network approach encourages cost-effective and efficient measures to combat money laundering domestically and internationally.

As an MSB, each payment agent is required to follow these regulatory rules and requirements for accepting money from a customer. Security Bank, through its partnership with Transaction Management, LLC monitors and manages these relationships to ensure they all meet the required guidelines.

Therefore, all employees of each EmpaSys™ payment agent location that offer these services to customers are compliance trained annually to monitor for Anti-Money Laundering (AML) and Bank Secrecy Act (BSA) violations. Every payment agent employee that is given permission to load cash onto prepaid debit cards or perform money transfers will have completed this compliance training.

EmpaSys™ payment agent certification requires the completion of an online training course and test. The online course takes very little time and the brief quiz confirms each employee's understanding of the rules and regulations. EVERY employee must complete this compliance training BEFORE they can accept payments for these two services through the EmpaSys™ software.

To find out more about becoming a Money Services Business (MSB) or to learn more about the Financial Crimes Enforcement Network (FinCEN) or the USA Patriot Act, follow the links to their respective sites.