FinCEN Issues FAQs Related to Prepaid Access Rule

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On November 2, Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a list of Frequently Asked Questions (FAQs) related to its prepaid access rule originally issued by FinCEN in July. The FAQs were issued to help providers and sellers of prepaid access in understanding the scope of the recordkeeping and reporting requirements related to the prepaid card business under the Bank Secrecy Act (BSA).

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