FL S1482

Creates section 655.969, Florida Statutes, requiring financial institutions chartered in Florida to report transactions with foreign financial institutions owned by countries under U.S. Treasury sanctions programs.

Mandates Florida-chartered financial institutions maintaining correspondent or payable-through accounts with sanctioned foreign financial institutions identify and report the source of every transaction within 5 business days to the Office of Financial Regulation.

Requires financial institutions to certify that transaction sources do not involve confiscated property as defined in the Cuban Liberty and Democratic Solidarity Act of 1996 (22 U.S.C. 6023(4) and (12)).

Effective date is July 1, 2017.