HB2412

Missouri HB2412 prohibits foreign remittance transfers to unauthorized aliens and imposes penalties.

Missouri HB2412 amends the state's financial regulations to prohibit foreign remittance transfers to unauthorized aliens. Licensees must verify the sender's status and maintain records for three years. Failure to comply results in a penalty of 25% of the transfer amount. The division of finance can audit licensees and suspend licenses for violations. All penalties collected go to the Missouri disaster fund unless the sender is verified as not being an unauthorized alien. The bill also outlines procedures for appeals and enforcement.