Assembly Bill A6309

2017-2018 Legislative Session

Relates to clarifying definitions of "illegal money transmission" and "money laundering"; and relates to penalties for unlicensed money transmitters

download bill text pdf

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Archive: Last Bill Status - In Assembly Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2017-A6309 (ACTIVE) - Details

Current Committee:
Assembly Banks
Law Section:
Banking Law
Laws Affected:
Amd §650, Bank L; amd §470.00, Pen L; amd §30.10, CP L
Versions Introduced in Other Legislative Sessions:
2011-2012: A8531
2013-2014: A2469
2015-2016: A6586
2019-2020: A6425

2017-A6309 (ACTIVE) - Summary

Relates to clarifying the definitions of "illegal money transmission" and "money laundering"; relates to penalties for unlicensed money transmitters; relates to timeliness of prosecutions.

2017-A6309 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6309
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               March 2, 2017
                                ___________
 
 Introduced by M. of A. CRESPO -- read once and referred to the Committee
   on Banks
 
 AN  ACT  to  amend  the banking law, in relation to clarifying the defi-
   nition of illegal money transmission and increasing the penalties  for
   certain  activities  by licensed and unlicensed money transmitters; to
   amend the penal law, in relation to the definition of  money  launder-
   ing;  and  to amend the criminal procedure law, in relation to timeli-
   ness of prosecutions
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subdivision 1 of section 650 of the banking law, as amended
 by chapter 201 of the laws of 1969, is amended to read as follows:
   1.  [Any  person  who violates or participates in the violation of any
 provisions of this article, or who knowingly makes any incorrect  state-
 ment  of  a  material  fact in any application, report or statement made
 pursuant to this article, or who knowingly omits to state  any  material
 fact  necessary  to  give  the  superintendent  any information lawfully
 required by him or refuses to permit any  lawful  investigation  by  the
 superintendent  shall  be  guilty of a misdemeanor and, upon conviction,
 shall be fined not more than five hundred dollars or imprisoned for  not
 more  than  six  months  or both, in the discretion of the court]A.  ANY
 PERSON WHO KNOWINGLY MAKES ANY  FALSE  STATEMENT,  MISREPRESENTATION  OR
 FALSE  CERTIFICATION  IN  ANY  APPLICATION, FINANCIAL STATEMENT, ACCOUNT
 RECORD, CUSTOMER RECEIPT, REPORT OR OTHER DOCUMENT FILED OR REQUIRED  TO
 BE  MAINTAINED  OR  FILED UNDER THIS ARTICLE, OR WHO KNOWINGLY MAKES ANY
 FALSE ENTRY OR OMITS A MATERIAL ENTRY IN ANY SUCH DOCUMENT OR REFUSES TO
 PERMIT ANY LAWFUL INVESTIGATION BY THE SUPERINTENDENT, SHALL  BE  GUILTY
 OF A CLASS E FELONY.
   B. ANY LICENSEE OR AGENT WHO:
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD06634-01-7

              

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