§ 28-8-5-24.5 — Compliance with money laundering laws; investigation and enforcement by department

Indiana § 28-8-5-24.5

• Jurisdiction: Indiana
• Art. 8: FINANCIAL SERVICES
• Ch. 5: Cashing Checks

Text

5. (a) A licensee shall comply with all state
and federal money laundering statutes and regulations, including the
following:
(1) The Bank Secrecy Act (31 U.S.C. 5311 et seq.).
(2) The USA Patriot Act of 2001 (P.L. 107-56).
(3) Any regulations, policies, or reporting requirements
established by the Financial Crimes Enforcement Network of the
United States Department of the Treasury.
(4) Any other state or federal money laundering statutes or
regulations that apply to a licensee.
(b) The department shall do the following:
(1) To the extent authorized or required by state law, investigate
potential violations of, and enforce compliance with, state money
laundering statutes or regulations.
(2) Investigate potential violations of federal money laundering
statutes or regulations and, to the extent authorized or required by
federal law:
(A) enforce compliance with the federal statutes or regulations;
or
(B) refer suspected violations of the federal statutes or
regulations to the appropriate federal regulatory agencies.

Legislative History

As added by P.L.10-2006, SEC.66 and P.L.57-2006, SEC.66.