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Can you summarize RIGL 19-14.3-3.8?
Currency Transmissions > Prohibited acts and practices.
Short Summary
This document governs the prohibited acts and practices related to currency transmission. It applies to persons required to be licensed under this chapter. The document prohibits various actions, including failure to remit money received for transmission, failure to notify the director of dishonored transactions, engaging in currency transmission under unauthorized names, non-compliance with the Bank Secrecy Act and Electronic Fund Transfer Act, failure to safeguard identifying information, failure to comply with state and federal laws and regulations, using false or deceptive advertising, and engaging in unfair, deceptive, or fraudulent practices. The document does not apply in cases relating to fraud prevention, money laundering prevention, compliance with sanctions, and other related compliance obligations. Specific penalties for non-compliance are not mentioned.
Whom does it apply to?
Persons required to be licensed under this chapter
What does it govern?
Prohibited acts and practices related to currency transmission
What are exemptions?
Cases relating to the prevention and detection of fraud or money laundering, compliance with applicable sanctions, regimes, and other related compliance obligations
What are the Penalties?
Not specified
Jurisdiction
Rhode Island