(205 ILCS 658/11-1)
Sec. 11-1. Prohibited acts and practices for licensees. It is a violation of this Act for a licensee, or other person subject to this Act to: (1) directly or indirectly employ any scheme, device, |
| or artifice to defraud or mislead any person, including, but not limited to, engaging in bait and switch advertising or sales practices;
|
|
(2) directly or indirectly engage in any unfair or
|
| deceptive act or practice toward any person, including, but not limited to, any false or deceptive statement about fees or other terms of a money transmission or currency exchange;
|
|
(3) directly or indirectly obtain property by fraud
|
|
(4) knowingly make, publish, or disseminate any
|
| false, deceptive, or misleading information in the provision of money services;
|
|
(5) knowingly receive or take possession for personal
|
| use of any property of any money services business, other than in payment for services rendered, and with intent to defraud, omit to make, or cause or direct to omit to make, a full and true entry thereof in the books and accounts of the business;
|
|
(6) make or concur in making any false entry, or omit
|
| or concur in omitting any material entry, in the books or accounts of the business;
|
|
(7) knowingly make or publish to the Director or the
|
| Director's designee, or concur in making or publishing to the Director or the Director's designee any written report, exhibit, or statement of its affairs or pecuniary condition containing any material statement which is false, or omit or concur in omitting any statement required by law to be contained therein;
|
|
(8) fail to make any report or statement lawfully
|
| required by the Director or other public official.
|
|
(9) demonstrate by course of conduct, negligence or
|
| incompetence in performing any act directly or indirectly relating to licensed activity;
|
|
(10) engage in unsafe and unsound practices directly
|
| or indirectly relating to licensed activity; or
|
|
(11) fail to comply with the provisions of this Act
|
| or with any lawful order or agreement, rule, or regulations made or issued under the provisions of this Act.
|
|
(Source: P.A. 103-991, eff. 8-9-24.)
|