Effective July 1, 2026
51A-18-12. 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.