PREPARING FOR AN EXAMINATION - Money Transmitter

Recommendations for being ready for an examination by the Department at any given time:

• Ensure the company’s information in NMLS is always up-to-date and accurate, especially the Primary Company Contact email and phone information.

• Ensure all books and records required by Department Rule Chapter 80-3-3 by Bank Secrecy Act regulations, and by the Federal Trade Commission’s “Safeguards Rule” are properly maintained and are accessible to the Department for examinations or upon request.

• Frequently visit the Department’s website, dbf.georgia.gov, for information concerning changes to Georgia money transmitter laws and related Department Rules and Regulations and for updates to the FAQs and Examination Overview section.

• Licensee management should be proactive with identifying and addressing compliance concerns.  Have a system of internal controls and procedures that is conducive to a culture of compliance and promotes ongoing compliance and business continuity.