Legislation

Search OpenLegislation Statutes

This entry was published on 2014-09-22
The selection dates indicate all change milestones for the entire volume, not just the location being viewed. Specifying a milestone date will retrieve the most recent version of the location before that date.
SECTION 470.05
Money laundering in the fourth degree
Penal (PEN) CHAPTER 40, PART 4, TITLE X, ARTICLE 470
§ 470.05 Money laundering in the fourth degree.

A person is guilty of money laundering in the fourth degree when:

1. Knowing that the property involved in one or more financial
transactions represents the proceeds of criminal conduct:

(a) he or she conducts one or more such financial transactions which
in fact involve the proceeds of specified criminal conduct:

(i) With intent to:

(A) promote the carrying on of criminal conduct; or

(B) engage in conduct constituting a felony as set forth in section
eighteen hundred three, eighteen hundred four, eighteen hundred five, or
eighteen hundred six of the tax law; or

(ii) Knowing that the transaction or transactions in whole or in part
are designed to:

(A) conceal or disguise the nature, the location, the source, the
ownership or the control of the proceeds of criminal conduct; or

(B) avoid any transaction reporting requirement imposed by law; and

(b) The total value of the property involved in such financial
transaction or transactions exceeds five thousand dollars; or

2. Knowing that one or more monetary instruments represents the
proceeds of criminal conduct:

(a) he or she transports, transmits, or transfers on one or more
occasions, monetary instruments which in fact represent the proceeds of
specified criminal conduct:

(i) With intent to promote the carrying on of criminal conduct; or

(ii) Knowing that such transportation, transmittal, or transfer is
designed in whole or in part to:

(A) conceal or disguise the nature, the location, the source, the
ownership, or the control of the proceeds of criminal conduct; or

(B) avoid any transaction reporting requirement imposed by law; and

(b) The total value of such monetary instrument or instruments exceeds
ten thousand dollars; or

3. He or she conducts one or more financial transactions:

(a) involving property represented to be the proceeds of specified
criminal conduct, or represented to be property used to conduct or
facilitate specified criminal conduct, with intent to:

(i) promote the carrying on of specified criminal conduct; or

(ii) conceal or disguise the nature, the location, the source, the
ownership or the control of property believed to be the proceeds of
specified criminal conduct; or

(iii) avoid any transaction reporting requirement imposed by law; and

(b) the total value of the property involved in such financial
transaction or transactions exceeds ten thousand dollars.

Money laundering in the fourth degree is a class E felony.