N.Y. Banking Law § 650: Violations and penalties

§ 650. Violations and penalties. 1. Any person who violates or

participates in the violation of any provisions of this article, or who

knowingly makes any incorrect statement 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.

2. a. Any person who either (1) engages in the business of receiving

money for transmission or transmitting the same or (2) sells or issues

New York instruments or New York traveler's checks as those terms are

defined by section six hundred fifty-three of this chapter, without a

license therefor obtained from the superintendent as provided in this

article, shall be guilty of a Class A misdemeanor.

b. Any person who violates paragraph a of this subdivision and in the

course of that violation:

(1) knowingly receives or agrees to receive for transmission from one

or more individuals a total of ten thousand dollars or more in a single

transaction, a total of twenty-five thousand dollars or more during a

period of thirty days or less, or a total of two hundred fifty thousand

dollars or more during a period of one year or less; or

(2) knowingly sells or issues New York instruments or New York

traveler's checks to one or more individuals totaling ten thousand

dollars or more in a single transaction, a total of twenty-five thousand

dollars or more during a period of thirty days or less, or a total of

two hundred fifty thousand dollars or more during a period of one year

or less; or

(3) knowingly engages in the business of receiving money for

transmitting or transmitting the same, knowing such money to be the

proceeds of any criminal conduct; or

(4) knowingly sells or issues New York instruments or New York

traveler's checks as those terms are defined by section six hundred

fifty-three of this chapter, knowing such instruments or checks to be

purchased with the proceeds of or derived from any criminal conduct;

shall be guilty of a class E felony.

3. Any licensee who fails to make any report required by the

superintendent pursuant to this article, on or before the day designated

for the making thereof, or fails to include therein any prescribed

matter, shall forfeit to the people of the state an amount as determined

pursuant to section forty-four-a of this chapter for every day that such

report shall be delayed or withheld, and for every day that it shall

fail to report any such omitted matter, unless the superintendent shall,

in his or her sole discretion, for good cause shown, reduce the amount

to be forfeited, or unless the time therefor shall have been extended by

the superintendent, as provided in subdivision four of this section.

4. The superintendent may extend, for a period not exceeding ninety

days, the time within which a licensee is required to make any report

required by the superintendent pursuant to this article.