35. The term “money transmitting" under section l950(b)(2) includes "transferring funds on behalf of the public by any and all means including but not limited to transfers within this country or to locations abroad by wire, check, draft, facsimile, or Courier,"
35. Under Title 18, United states Code section 1950, it is a felony to conduct a "money transmitting business" it, among other things, the business is not registered as a money transmitting business with the Secretary of the Treasury as required under Title 31, United states Code, section 5330 or regulations prescribed thereunder, or if the business otherwise involves the transportation or transmission of funds that are known to the defendant to have been derived from a Criminal offense or intended to be used to promote unlawful activity. See 31 C.F.R. §§ 1010.l00(ff)(5), l022.380(a)(2).
37. The implementing regulations for Title 31, United States Code, section 5330 specifically apply to foreign-based money transmitting businesses doing substantial business in the United states. See 31 C.F.R. §§ 1010.100(ff)(5), 1022.380(a)(2). As noted above, LIBERTY RESERVE is estimated to have had approximately 200,000 users located in the United states, and at no time did LIBERTY RESERVE register with the United states Department of Treasury as a money transmitting business.
