S.D. Admin. R. 20:18:35:23
A licensee or sports wagering services provider shall comply with all provisions of the Bank Secrecy Act of 1970, 31 U.S.C. §§ 5311 to 5332, applicable to the licensee's or sports wagering services provider's sports wagering operation.
A licensee or sports wagering services provider must, with regard to its sports wagering operation, maintain records related to its compliance with the Bank Secrecy Act of 1970, 31 U.S.C. §§ 5311 to 5332, including all currency transaction reports, suspicious activity reports, and any supporting documentation, for a minimum of five years. The licensee or sports wagering services provider must provide the records to the commission and any appropriate law enforcement agencies on request, consistent with the authorization prescribed in the Bank Secrecy Act of 1970 and applicable regulations.
A licensee or sports wagering services provider shall provide a written notice to the commission as soon as the licensee or sports wagering services provider becomes aware of a compliance review that is conducted by the Internal Revenue Service under the Bank Secrecy Act of 1970 and involves or impacts the licensee's or sports wagering services provider's sports wagering operation. The licensee or sports wagering services provider shall provide a copy of the compliance review report or the equivalent to the commission within ten days after the receipt of the report by the licensee or sports wagering services provider.
S.D. Admin. R. 20:18:35:23
General Authority: SDCL 42-7B-7, 42-7B-11(13).
Law Implemented: SDCL 42-7B-2.1(1), 42-7B-43.