MN HF343

Amends Minnesota Statutes section 53B.18 to add a fourth prohibited practice: money transmitters must comply with new section 53B.27 regarding fraud prevention measures.

Requires money transmitters to provide clear, conspicuous consumer fraud warnings on all transmittal forms and establish toll-free numbers for fraud reporting.

Mandates money transmitters provide fraud prevention training for agents and monitor agent activity related to consumer transmittals.

Allows individuals to voluntarily disqualify themselves from sending or receiving money transfers for a minimum of one year, with option to extend the period or terminate disqualification upon written notice.