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New York Consolidated Laws, Penal Law - PEN § 470.10 Money laundering in the third degree

Current as of January 01, 2024 | Updated by FindLaw Staff

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

1. Knowing that the property involved in one or more financial transactions represents:

(a) the proceeds of the criminal sale of a controlled substance, he or she conducts one or more such financial transactions which in fact involve the proceeds of the criminal sale of a controlled substance:

(i) With intent to:

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

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

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

(b) the proceeds of criminal conduct, 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

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

2. Knowing that one or more monetary instruments represent:

(a) the proceeds of the criminal sale of a controlled substance, he or she transports, transmits, or transfers or attempts to transport, transmit or transfer, on one or more occasions, monetary instruments which in fact represent the proceeds of the criminal sale of a controlled substance from a place in any county in this state to or through a place outside that county or to a place in any county in this state from or through a place outside that county:

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

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

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

(b) the proceeds of criminal conduct, he or she transports, transmits, or transfers or attempts to transport, transmit or transfer, on one or more occasions monetary instruments which in fact represent the proceeds of specified criminal conduct from a place in any county in this state to or through a place outside that county or to a place in any county in this state from or through a place outside that county:

(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

(iii) The total value of such monetary instrument or instruments exceeds fifty thousand dollars; or

3. He or she conducts one or more financial transactions involving property represented to be:

(a) the proceeds of the criminal sale of a controlled substance, or represented to be property used to conduct or facilitate the criminal sale of a controlled substance:

(i) With intent to:

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

(B) 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

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

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

(b) the proceeds of specified criminal conduct, or represented to be property used to conduct or facilitate specified criminal conduct:

(i) With intent to:

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

(B) 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

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

(ii) The total value of the property involved in such financial transaction or transactions exceeds fifty thousand dollars.

Money laundering in the third degree is a class D felony.

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Cite this article: FindLaw.com - New York Consolidated Laws, Penal Law - PEN § 470.10 Money laundering in the third degree - last updated January 01, 2024 | https://codes.findlaw.com/ny/penal-law/pen-sect-470-10/

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