NY A08531

Upgrades penalty for making false statements in money transmitter applications from misdemeanor to Class E felony, and expands scope to include false entries in financial statements, account records, customer receipts, and other required documents.

Increases penalty for operating as unlicensed money transmitter from Class A misdemeanor to Class D felony, with Class C felony for transmitting criminal proceeds or selling instruments/checks derived from criminal conduct.

Expands definition of "specified criminal conduct" under money laundering law to include violations of banking law sections 672 and 673 (relating to money transmission).

Extends statute of limitations for prosecuting money transmitter crimes and certain banking and financial crimes from standard timeframe to 10 years after commission.