NY Penal Law § 470.10: Money Laundering in the Third Degree.

What is Money Laundering?

In order to conceal the proceeds from criminal activity such as drug dealing, people who are involved in the criminal activity have been known to take steps to change money received from the criminal conduct into money that appears to be gained through legitimate means. This activity is referred to as money laundering. If you are suspected of money laundering, the specific charge you could face will be heavily dependent upon the amount of money involved and the reasons behind the money laundering.

Elements of Money Laundering in the Third Degree

You could face prosecution for money laundering in the third degree under New York Penal Law § 470.10 if you:

• Are aware that a financial transaction represents the proceeds of criminal conduct and you:
  • Carry out at least one financial transaction with intent to carry on the criminal activity or with intent to violate federal tax legislation,
  • Carry out at least one financial transaction with the awareness that it was designed to hide the nature, location or control of the criminal activity
  • Carry out at least one financial transaction that is designed to avoid necessary transaction reporting and the amount of the transaction or transactions is greater than $10,000
• Are aware that at least one money instrument represents the proceeds of criminal conduct and you transport the money instrument with intent to:
  • Promote carrying on the criminal activity
  • Conceal the nature, location or control of the criminal activity
  • Avoid transaction reporting and the amount of the money instrument or instruments is greater than $50,000 combined.