This document, part of the Florida Statutes, regulates money services businesses in the state. It applies to persons located in or doing business in Florida who act as payment instrument sellers, foreign currency exchangers, check cashers, or money transmitters. The document provides definitions for various terms related to money services businesses, such as affiliated party, appropriate regulator, authorized vendor, branch office, cashing, check casher, compliance officer, conductor, control person, corporate payment instrument, currency, deferred presentment provider, department, electronic instrument, financial audit report, foreign affiliate, foreign currency exchanger, fraudulent identification paraphernalia, licensee, location, monetary value, money services business, money transmitter, net worth, office, outstanding money transmission, outstanding payment instrument, payment instrument, payment instrument seller, person, personal identification information, publicly traded, sells, stored value, virtual currency.

(1) A licensee and authorized vendor must comply with all state and federal laws and rules relating to the detection and prevention of money laundering, including, as applicable, s. 560.123, and 31 C.F.R. ss. 1010.306, 1010.311, 1010.312, 1010.313, 1010.340, 1010.410, 1010.415, 1022.320, 1022.380, and 1022.410. (2) A licensee and authorized vendor must maintain an anti-money laundering program in accordance with 31 C.F.R. s. 1022.210. The program must be reviewed and updated as necessary to ensure that the program continues to be effective in detecting and deterring money laundering activities.

To qualify for licensure as a money services business under this chapter, an applicant must: (1) Demonstrate to the office the character and general fitness necessary to command the confidence of the public and warrant the belief that the money services business or deferred presentment provider shall be operated lawfully and fairly. (2) Be legally authorized to do business in this state. (3) Be registered as a money services business with the Financial Crimes Enforcement Network as required by 31 C.

This legal document outlines the requirements for applying for a license as a money services business under the Florida Statutes. The applicant must submit an application form with various information, including their legal name, address, formation details, control person details, organizational structure, history of operations, and other specified information. The applicant must also pay a nonrefundable application fee and provide fingerprints for each person listed in the application. However, publicly traded corporations and those exempted under s.

This legal document outlines the record retention requirements for licensees under the Money Services Businesses section of the Florida Statutes. In addition to the record retention requirements under s. 560.1105, licensees are required to maintain various books, accounts, records, and documents for a period of 5 years. These include a daily record of payment instruments sold and transmitted currency, a general ledger, daily settlement records from authorized vendors, monthly financial institution statements and reconciliation records, records of outstanding payment instruments and transmitted currency, records of each payment instrument paid and transmitted currency, a list of authorized vendors, records documenting relationships with authorized vendors and foreign affiliates, and any additional records prescribed by rule to detect and prevent money laundering or related to virtual currency.

This legal document provides definitions for various terms used in the financial institutions codes. It applies to a wide range of financial institutions, including state or federal savings or thrift associations, banks, trust companies, international bank agencies, credit unions, and more. The document does not mention any specific exemptions or penalties. Its purpose is to establish clear and consistent definitions for the terms used in the financial institutions codes, ensuring accurate interpretation and application of the laws governing financial institutions.

This legal document governs the access to books and records, confidentiality, and penalties for disclosure in the context of financial institutions. The books and records of a financial institution are confidential and can only be inspected and examined by authorized entities such as the office, federal or state instrumentality or agency, or the home-country supervisor of an international banking corporation or international trust entity. However, certain books and records pertaining to customer deposit, investment, custodial, and trust accounts are not disclosed to the home-country supervisor.

The Florida Control of Money Laundering and Terrorist Financing in Financial Institutions Act requires financial institutions to submit certain reports and maintain records of customers, accounts, and transactions involving currency or monetary instruments or suspicious activities. The purpose of this act is to prevent financial institutions from being used to conceal, move, or provide proceeds obtained from criminal or terrorist activities. The act defines various terms such as BSA/AML compliance officer, currency, financial institution, financial transaction, monetary instruments, report, specified unlawful activity, and suspicious activity.

This legal document, governed by the Florida Statutes, applies to deposits in and contracts relating to extensions of credit made by a deposit or lending institution located in the state of Florida. It specifies that the law of Florida governs all aspects, including the validity and effect, of any deposit account in a branch or office in Florida, regardless of the citizenship, residence, location, or domicile of any other party to the contract or agreement governing such deposit account.

Deposits made by a minor, or made in the minors name by other than a court-appointed guardian, may be withdrawn by the minor in the absence of an agreement to the contrary made between the institution and the depositor at the time the account is opened. In case of any such agreement, such moneys, until the minors disabilities are removed, may be withdrawn by the person or persons designated in such agreement.