Foreign remittance transfers verification requirement and civil and criminal penalties establishment provision

Summary

The bill adds new verification and record‑keeping rules for licensed money transmitters that send funds abroad. Senders must show a specific list of government‑issued IDs to prove they are lawfully present in the United States, and transmitters must keep those documents and report quarterly. Violations trigger a civil penalty equal to 25% of the transfer amount and possible criminal charges for false complaints.

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