Money Services Businesses (MSBs)

Money Services Businesses (MSBs) are companies that provide financial services related to money transfers and currency exchange. This includes businesses like money transmitters, check cashers, and currency dealers. MSBs help individuals and businesses send money to others, convert currencies, or cash checks. They are regulated by government laws to prevent fraud and money laundering, ensuring they operate transparently and securely. Overall, MSBs play a crucial role in the economy by facilitating the flow of money and supporting various financial transactions in local and international markets.