FTC Safeguards Rule Compliance for Check Cashing & Money Services Businesses

Check cashing and money services businesses handle high-risk financial and identity data and are subject to the FTC Safeguards Rule. This page explains compliance requirements and how to reduce regulatory and fraud exposure.

Who This Applies To

• Check cashing businesses
• Money transmitters
• Currency exchange and payment service providers

What the FTC Safeguards Rule Requires

The FTC requires MSBs to safeguard customer identification, transaction records, and stored financial data.

Written Information Security Program (WISP)

An MSB WISP documents access controls, system monitoring, incident response procedures, and vendor security oversight.

Common Compliance Failures

• No written security program
• Weak access controls on transaction systems
• No logging or monitoring
• Unreviewed third-party processors

How RebootTwice Helps

We help MSBs implement compliant safeguards programs that support both FTC and operational risk requirements.