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Can you summarize IC 28-8-4-46?
Money Transmitters > Compliance with money laundering laws; investigation and enforcement by department
Short Summary
This legal document governs the compliance with money laundering laws and the investigation and enforcement conducted by the department. It applies to licensees or authorized delegates who are engaged in money transmission services. The document requires the licensee or authorized delegate to comply with all state and federal money laundering statutes and regulations, including the Bank Secrecy Act, the USA Patriot Act of 2001, and any regulations established by the Financial Crimes Enforcement Network. The department is authorized to investigate potential violations of state and federal money laundering statutes or regulations and enforce compliance. The department may also refer suspected violations of federal statutes or regulations to the appropriate federal regulatory agencies. The document does not specify the penalties for non-compliance or violation of its provisions.
Whom does it apply to?
Licensee or an authorized delegate
What does it govern?
Compliance with money laundering laws; investigation and enforcement by department
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
Not specified.
Jurisdiction
Indiana