A trade organization announced its launch on Wednesday and said that it will provide resources in anti-money laundering compliance for money services businesses.

The Association of Money Services Compliance Officers will offer training to help money services, trades and businesses with their obligations to implement money laundering compliance programs and comply with regulations. The group will support all money services business platforms including prepaid access, money transmission, check cashing, money orders, currency exchange and precious metals dealers.

The organization was founded by industry veterans Michael McDonald, Saskia Rietbroek, Jeffrey Sklar, and John Walsh. It will be overseen by an advisory board with experts in the areas of finance and regulatory issues.

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