Indiana Code 28-8-5-24.5. Compliance with money laundering laws; investigation and enforcement by department
(1) The Bank Secrecy Act (31 U.S.C. § 5311 et seq.).
Terms Used In Indiana Code 28-8-5-24.5
- department: means the members of the department of financial institutions. See Indiana Code 28-8-5-4
- licensee: means a licensed casher of checks. See Indiana Code 28-8-5-7
- United States: includes the District of Columbia and the commonwealths, possessions, states in free association with the United States, and the territories. See Indiana Code 1-1-4-5
(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.
As added by P.L.10-2006, SEC.66 and P.L.57-2006, SEC.66.