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Consumer Finance

Money Service Businesses

The State of Alaska became a Uniform Money Service State on July 1, 2008. As of that date, the Division of Banking & Securities has been ensuring compliance with the statutes and regulations while extending out to the community to inform money service businesses of new requirements.

Submit MSB licensing inquiries to: msb_licensing@alaska.gov

Important Information!

  • All MSBs are required to obtain an annual license if they provide money services to Alaska residents.
  • A business conducting money services must be registered with FinCEN prior to doing business in the State of Alaska or offering products and services to Alaska Residents.
  • A business conducting money services must be in compliance with OFAC and the U.S. Patriot Act, in addition to other federal statutes and regulations regarding money service businesses.
  • An unlicensed money service business may be found in violation of 18 U.S.C. 1960 (b)(1)(a). This violation carries potential federal prosecution for violating the State of Alaska licensing requirements.

Money Service Business Links:

Useful Information to Licensees

  • State of Alaska business license(s) must be obtained prior to licensure as a money service business.
  • MSB Call Reports in NMLS are due 45 days after each fiscal quarter end.
  • Audited Financial Statements must be uploaded to NMLS after the MSB's Fiscal Year End and no later than October 31st of each calendar year.
  • It is the responsibility of each licensee to be familiar with the statutes and regulations governing money service business both federally and for the State of Alaska. Additionally, it is the responsibility of each licensee to require the authorized delegate to certify that the delegate is familiar with and agrees to operate in full compliance 3AAC 13.110.