S.D. Admin. R. 20:18:36.19

Current through Register Vol. 51, page 67, December 16, 2024

Section 20:18:36.19 - Failed electronic funds transfer transactions

Where financial transactions are conducted through electronic funds transfer, the advance deposit wagering licensee shall have security measures and controls to prevent electronic funds transfer fraud. A failed electronic funds transfer attempt is not considered fraudulent if the account holder has successfully performed a transfer on a previous occasion with no outstanding chargebacks. Otherwise, the licensee must:

(1) Temporarily block the holder's account for investigation of fraud after five consecutive failed electronic funds transfer attempts within a ten minute period. If there is no evidence of fraud, the block must be vacated; and

(2) Suspend the account holder's account after five additional, consecutive failed transfer attempts within a ten minute period.

S.D. Admin. R. 20:18:36.19

48 SDR 014, effective 8/22/2021

General Authority: SDCL 42-7B-7, 42-7B-11(13).

Law Implemented: SDCL 42-7B-77.