Requires money services businesses to verify that senders of foreign remittances are not unauthorized aliens (using documentation rules akin to status checks), with penalties, audits, and recordkeeping for violations, so more state-level checks tied to immigration status.
May not initiate a foreign remittance transfer unless the licensee has verified that the sender is not an unauthorized alien as defined in s. 908.111.
Imposes penalties, quarterly audits, record retention, complaint processes, and license suspension risks on money transmitters for failing to verify immigration status of foreign remittance senders, expanding state enforcement mechanisms around immigration status.
beginning July 1, 2026, the office shall conduct random quarterly audits of licensees to ensure compliance with s. 560.208(7)(a).
Why the model tagged it this way: The bill adds requirements for money services businesses to verify that foreign remittance senders are not unauthorized aliens (per s. 908.111), with associated recordkeeping, penalties deposited into an emergency fund, random audits, complaint mechanisms, and potential license suspension for noncompliance. This expands immigration-enforcement tools by enlisting private financial entities in status verification for cross-border transfers. No provisions address firearms, transgender issues, or abortion.