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NY A02469
Bill
Status
Introduced
1/15/2013
Primary Sponsor
Marcos Crespo
Click for details
AI Summary
- Upgrades penalties for false statements or misrepresentations in money transmission applications and documents from a misdemeanor to a Class E felony
- Increases penalties for unlicensed money transmission from a Class A misdemeanor to a Class D felony, and raises penalties for transmitting funds from criminal proceeds to a Class C felony (previously Class E)
- Expands the definition of "specified criminal conduct" under money laundering statutes to include violations of Banking Law sections 672 and 673 (relating to illegal money transmission)
- Extends the statute of limitations for prosecuting money transmission crimes and related banking law violations from the standard period to 10 years after commission of the offense
- Effective immediately, with the statute of limitations provision applying only to crimes committed after the bill's effective date
Legislative Description
Relates to clarifying the definitions of "illegal money transmission" and "money laundering"; relates to penalties for unlicensed money transmitters; relates to timeliness of prosecutions.
Last Action
referred to banks
1/8/2014
Committee Referrals
Banks1/15/2013
Full Bill Text
No bill text available