2018 Indiana Code
TITLE 28. Financial Institutions
ARTICLE 1. DEPARTMENT OF FINANCIAL INSTITUTIONS
CHAPTER 2. Powers and Duties of the Department
28-1-2-6.5. Compliance with money laundering laws; investigation and enforcement by the department
Sec. 6.5. (a) A financial institution (as defined in IC 28-1-1-3(1)), except for a licensee under IC 24-4.4, IC 24-4.5, or 750 IAC 9, shall comply with all state and federal money laundering statutes and regulations, including the following:
(1) The Bank Secrecy Act (31 U.S.C. 5311 et seq.).
(2) The USA Patriot Act of 2001 (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 financial institution (as defined in IC 28-1-1-3(1)) other than a licensee under IC 24-4.4, IC 24-4.5, or 750 IAC 9.
(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.28 and P.L.57-2006, SEC.28. Amended by P.L.73-2016, SEC.14.
