Fraud and money laundering prevention--Policy

A licensee shall take reasonable steps to detect and prevent fraud and money laundering, including establishing and maintaining a written anti-fraud policy and complying with the requirements of the Bank Secrecy Act, 31 U.S.C. §§ 5311 to 5336, inclusive (January 1, 2026). The policy must include: (1) Mechanisms to identify and assess risks associated with fraud and money laundering; (2) Controls and procedures to protect against identified risks; (3) An allocation of responsibility for monitoring risks; and (4) Procedures for the periodic evaluation and revision of the policy's procedures, controls, monitoring, and other mechanisms. Source: SL 2026, ch 193 , § 12.