Missouri SB1124 prohibits money transmission to unauthorized aliens and mandates record-keeping and verification.
Missouri SB1124 introduces new provisions to prevent money transmission to unauthorized aliens within the state. It mandates that licensees verify the sender's status before initiating a foreign remittance transfer. Licensees must maintain detailed records, including documentation used for verification, and submit these records to the director. Failure to comply results in penalties. The bill also outlines procedures for audits and complaints, ensuring compliance with these new regulations.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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