NY S00259

Elevates false statements in money transmitter applications and filings from misdemeanor to Class E felony, and adds Class E felony penalties for licensees knowingly transmitting proceeds from criminal conduct or selling instruments purchased with criminal proceeds.

Increases penalty for unlicensed money transmission from Class A misdemeanor to Class D felony, and raises Class E felony threshold for certain dollar amounts ($10,000 single transaction, $25,000 per 30 days, or $250,000 per year).

Expands definition of "specified criminal conduct" under money laundering laws to include violations of Banking Law sections 672 and 673 (illegal money transmission).

Extends statute of limitations for prosecuting money transmission crimes and related banking law violations from standard timeframe to 10 years after commission.