### Question
How does the law define unlicensed money transmitting business?


### Answer
Under *18 U.S.C. § 1960*, **unlicensed money transmitting business** is defined as:

> a money transmitting business which affects interstate or foreign commerce in any manner or degree and—


(A) is operated without an appropriate money transmitting license in a State where such operation is punishable as a misdemeanor or a felony under State law, whether or not the defendant knew that the operation was required to be licensed or that the operation was so punishable

#### Citation:
  - *18 U.S.C. § 1960*
  - Heading: **PART I-CRIMES > CHAPTER 95-RACKETEERING**

