20:04:35:18Failed electronic funds transfer transactions.

If financial transactions are conducted through electronic funds transfer, the hub licensee must 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.

Source: 53 SDR 35, effective September 30, 2026.