2008-05-27

Added 2026-08-11

Ruling on Whether a Certain Operation Protecting On-line Personal Financial Information is a Money Transmitter

FinCEN determines that a company issuing one-time virtual credit cards to mask consumer financial data during online purchases is a money transmitter. The ruling concludes that the acceptance and transmission of funds is not integral to a separate transaction but constitutes secure money transmission itself. Consequently, the company is obligated to register as a money services business with FinCEN.

US Federal

Financial Crimes Enforcement Network

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