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Indiana Code Title 28. Financial Institutions § 28-7-5-37.5

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 37.5. (a) A licensee shall comply with all state and federal money laundering statutes and regulations, including the following as they become applicable to licensees under this chapter:

(1) The Bank Secrecy Act (31 U.S.C. 5311 et seq.).

(2) The USA Patriot Act of 2001   1 (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.

1  The USA Patriot Act appears as various sections throughout 8, 15, 18, 22, 31, 42, 49, and 50 U.S.C.A.
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Cite this article: FindLaw.com - Indiana Code Title 28. Financial Institutions § 28-7-5-37.5 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-28-financial-institutions/in-code-sect-28-7-5-37-5/

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