Senate Bill S259

2013-2014 Legislative Session

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

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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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2013-S259 (ACTIVE) - Details

See Assembly Version of this Bill:
A2469
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:
2009-2010: S2176
2011-2012: S271, A8531
2015-2016: S235, A6586
2017-2018: S506, A6309
2019-2020: S4921, A6425
2021-2022: S5202

2013-S259 (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.

2013-S259 (ACTIVE) - Sponsor Memo

2013-S259 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                   259

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced  by  Sen.  DIAZ  --  read twice and ordered printed, and when
  printed to be committed 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.
                                                           LBD00628-01-3
              

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