MS SB2715

Requires all fees, fines, and penalties collected under the Money Transmission Modernization Act to be deposited into the Consumer Finance Fund and used exclusively for administration and enforcement of the Act

Mandates licensees and applicants report locations of virtual currency kiosks in the state, including in initial applications, annual renewal reports, and quarterly reports to the Commissioner

Requires licensees to provide annual training materials to authorized delegates on recognizing and responding to financial abuse and exploitation of elder adults, with new delegates trained within one month of appointment

Creates the "Data Security for Money Transmitters Act" establishing information security program requirements, including standards for safeguarding customer information, encryption, multifactor authentication, and mandatory notification to the Commissioner of security breaches

Requires licensees to provide their name and contact information to customers with each transaction and mandates authorized delegates display prominent fraud warnings with toll-free reporting numbers in English and any other language used for business