MN HF3850

Amends Minnesota Statutes section 53B.18 to add a new prohibited practice requiring licensees to comply with section 299L.11 regarding money transmitters and electronic fraud enforcement.

Creates a new Division of Alcohol, Gambling, and Electronic Fraud Enforcement under the Department of Public Safety, with a director and staff to enforce laws related to electronic fraud and gambling.

Establishes administrative subpoena authority for the director to obtain telecommunications account information (email, phone numbers, Internet access, websites) from service providers for investigations of identity theft or other fraudulent activities.

Requires money transmitters to establish antifraud programs with background investigations, designate specific recipients for transfers over $100, verify government-issued photo identification, and ask customers if transfers are fraud-related; violators must suspend suspicious transfers and report them.

Imposes a $5 fraud protection fee per money transfer submitted to the Commissioner of Public Safety and deposited in a special revenue fund for enforcement activities.