560.211 Required records. - Florida Statutes

560.211 Required records.

   (1) In addition to the record retention requirements under s. 560.1105, each licensee under this part must make, keep, and preserve the following books, accounts, records, and documents for 5 years:

   (a) A daily record of payment instruments sold and money transmitted.

   (b) A general ledger containing all asset, liability, capital, income, and expense accounts, which shall be posted at least monthly.

   (c) Daily settlement records received from authorized vendors.

   (d) Monthly financial institution statements and reconciliation records.

   (e) Records of outstanding payment instruments and money transmitted.

   (f) Records of each payment instrument paid and money transmission delivered.

   (g) A list of the names and addresses of all of the licensee’s authorized vendors.

   (h) Records that document the establishment, monitoring, and termination of relationships with authorized vendors and foreign affiliates.

   (i) Any additional records, as prescribed by rule, designed to detect and prevent money laundering.

   (2) Any person who willfully fails to comply with this section commits a felony of the third degree, punishable as provided in s. 775.082, s. 775.083, or s. 775.084.

History. s. 2, ch. 94-238; s. 2, ch. 94-354; s. 11, ch. 2000-360; s. 717, ch. 2003-261; s. 61, ch. 2006-213; s. 36, ch. 2008-177.