NBPCA Releases AML Recommended Practices

On February 22, 2008, the Network Branded Prepaid Card Association released “Recommended Practices for Anti-Money Laundering Compliance for U.S.-Based Prepaid Card Programs. The goal of this 35-page document is to support compliance with the U.S. Bank Secrecy Act’s anti-money laundering requirements. The document provides “a roadmap to risk reduction that will further safeguard prepaid cards,” said Terry Maher, partner, Baird Holm LLP, who chairs the NBPCA’s AML Task Force. Click here for full article.

Additional links to newly released NBPCA AML Recommended Practices:
http://www.greensheet.com/newswire.php?newswire_id=8743
http://www.prepaid-press.com/news_detail.php?t=pt&id=1049
http://www.paymentsnews.com/2008/02/recommended-pra.html