Ga. Comp. R. & Regs. R. 80-4-1-.04 - Reports of Apparent Criminal Irregularity by Check Cashers

(1) Structuring to avoid reporting. Unless otherwise reporting to the appropriate federal agency under Paragraph (2) of Rule 80-4-1-.03, every check casher and other persons who cash payment instruments for a fee shall report to the Department any instance involving such cashing of payment instruments where there is reasonable cause to believe that its customer has, for the purpose of evading the reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970 and its related regulations, including those set forth at 31 CFR Chapter X (together, the "Bank Secrecy Act") or Article 11 of Chapter 1 of Title 7:

(a) Caused or attempted to cause a currency transaction report required under Article 11 of Chapter 1 of Title 7 or the Bank Secrecy Act not to be filed;

(b) Caused or attempted to cause a currency transaction report required under Article 11 of Title 7 or the Bank Secrecy Act to be filed containing a material omission or misstatement as defined in O.C.G.A. § 7-1-912;

(c) Completed a structuring (as defined in O.C.G.A. § 7-1-912), assisted in structuring, attempted a structuring, or attempted to assist in structuring any currency transaction.

(2) Any licensed check casher shall notify the Department within ten (10) business days of any knowledge or discovery of any criminal act or apparent criminal act by any officer, director, or employee of such licensee occurring in this state and relating to the business of the licensee. Such notification shall include a full description of the acts or apparent acts believed to be in violation of the criminal laws of this state or the United States, the names of all persons believed to be involved, a statement as to action taken by the licensee in response to the discovery or suspicions, and a copy of the written notification to the licensee's fidelity insurance carrier.

(3) Licensees governed by these Rules shall be subject to amendments of the Bank Secrecy Act which may impose other reporting obligations for suspicious transactions.

Notes

Ga. Comp. R. & Regs. R. 80-4-1-.04

O.C.G.A. §§ 7-1-61, 7-1-706.1.

Original Rule entitled "Books, Records, and Accounts" was filed on July 5, 1973; effective July 25, 1973. Amended: Rule repealed and a new Rule of the same title adopted. Filed June 18, 1979; effective July 8, 1979. Amended: Filed July 13, 1981; effective August 2, 1981. Amended: Filed October 12, 1982; effective November 2, 1982. Repealed: F. June 20, 2016; eff. July 10, 2016. Adopted: New Rule entitled "Reports of Apparent Criminal Irregularity by Check Cashers." F. Dec. 16, 2021; eff. Jan. 5, 2022.