Loading chat...
NY S00506
Bill
Status
3/13/2017
Primary Sponsor
Ruben Diaz
Click for details
AI Summary
-
Upgrades penalties for false statements in banking documents from a misdemeanor to a class E felony.
-
Increases penalties for licensed money transmitters who knowingly transmit criminal proceeds or sell instruments purchased with criminal proceeds from class E to class C felony.
-
Elevates unlicensed money transmission from a class A misdemeanor to a class D felony.
-
Adds violations of banking law sections 672 and 673 (money transmission provisions) to the definition of "specified criminal conduct" for purposes of money laundering laws.
-
Extends the statute of limitations for prosecuting banking-related crimes and money laundering to 10 years after the commission of the crime.
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
3/13/2017