In unwavering adherence to U.S. laws aimed at preventing financial crimes, Cacashop has been granted the U.S. FinCEN Msb license, embracing compliance.
On June 17, 2023, it was announced that the cross-border e-commerce platform, Cacashop, has successfully procured the Money Services Business (MSB) license from the Financial Crimes Enforcement Network (FinCEN). This authorization will bolster Cacashop’s ongoing endeavor to foster its global compliance operating standards, further refine its risk control system, and lay a robust foundation for servicing its worldwide user base.
FinCEN MSB, affiliated with the the U.S. Department of Treasury, is appointed by the Secretary of the Treasury and reports to the undersecretary responsible for terrorism and financial intelligence. The organization’s mission revolves around shielding the financial system from illicit usage and combating money laundering. It advances national security by collecting, analyzing, and disseminating financial intelligence and strategically employing financial authorities. To accomplish its mission, FinCEN receives and maintains financial transaction data, disseminates this data for law enforcement purposes, and establishes global cooperation with equivalent organizations and international institutions.
Acquiring the U.S. MSB license signifies that Cacashop complies with relevant U.S. regulations as a cross-border e-commerce platform. This compliance paves the way for Cacashop to further penetrate the global e-commerce market and enhance the trust level among the platform’s sellers and global consumers.
Operating with a license holds paramount importance for cross-border service organizations. The ability to secure official national permission underscores Cacashop’s strength and credibility, aligns with its global compliance operation strategy, and offers safer and more reliable services to its platform users.
According to FinCEN’s official website, CACASHOP was granted the license on May 26, 2023. The MSB activities listed for CACASHOP include: Dealer in foreign exchange, Issuer of money orders, Issuer of traveler’s checks, Money transmitter, Seller of money orders, Seller of prepaid access, Seller of traveler’s checks.
From the perspective of the users, compliant operation under regulatory conditions is highly favorable, indicating that their assets will receive legitimate protection. Simultaneously, Cacashop will persistently fortify its risk control system, providing high-quality services to the global cross-border e-commerce community, safeguarding user transaction security, enhancing user experience, and boosting the platform’s credibility and trustworthiness. With compliance as its distinguishing feature, Cacashop will continue to invest in the areas of compliance and safety, vigorously embracing regulatory oversight and compliant operations.
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Company Name: CACASHOP
Contact Person: Roger Brown
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Country: United States
Website: https://www.cacashop.com/
