NY A06309

Upgrades penalties for false statements in money transmission applications from a misdemeanor to a class E felony, and expands the definition to include false certifications, account records, and customer receipts.

Makes it a class E felony for licensed money transmitters or their agents to knowingly receive money or sell instruments derived from criminal conduct.

Increases the penalty for unlicensed money transmission from a class A misdemeanor to a class D felony, and raises the penalty for large unlicensed transactions or those involving criminal proceeds from a class E to a class C felony.

Adds violations of banking law sections 672 and 673 (related to money transmission) to the definition of "specified criminal conduct" under the penal law's money laundering statute.

Establishes a 10-year statute of limitations for prosecutions of financial crimes under the banking law and certain penal law articles involving licensed or registered financial entities.