(a) As used in this section, “suspicious wagering activity” means a wager which an operator licensee knows or in the judgment of it or its directors, officers, employees, and agents has reason to suspect is being attempted or was placed:

1. (1) In violation of or as part of a plan to violate or evade any federal, state, or local law, rule, or regulation; and
2. (2) Has no business or apparent lawful purpose or is not the sort of wager which the particular authorized player would normally be expected to place, and the licensee knows of no reasonable explanation for the wager after examining the available facts, including the background of the wager.

(c)

1. (1) The report in subsection (b) of this section shall be filed no later than seven (7) calendar days after the initial detection by the licensee of facts that may constitute a basis for filing such a report.
2. (2) If no suspect was identified on the date of the detection of the incident requiring the filing of the report, an operator may delay filing a report for an additional seven (7) calendar days to identify a suspect.
3. (3) In no case shall reporting be delayed more than fourteen (14) calendar days after the date of initial detection of a reportable transaction.
4. (4) In situations involving violations that require immediate attention, the operator shall immediately notify, by telephone, the Arkansas Racing Commission in addition to timely filing a report.

(d)

1. (1) An operator shall maintain a copy of any report filed and the original or business record equivalent of any supporting documentation for a period of five (5) years from the date of filing the report.
2. (2) Supporting documentation shall be identified, and maintained by the operator as such, and shall be deemed to have been filed with the report.
3. (3) An operator shall make all supporting documentation available to the commission and any appropriate law enforcement agencies upon request.