Section 574.105

Title XXXVIII CRIMES AND PUNISHMENT; PEACE OFFICERS AND PUBLIC DEFENDERS

Chapter 574

Effective - 28 Aug 2022, 3 histories   

  574.105.  Money laundering — penalty. — 1.  As used in this section, the following terms shall mean:

  (1)  "Conducts", initiating, concluding or participating in initiating or concluding a transaction;

  (2)  "Criminal activity", any act or activity constituting an offense punishable as a felony pursuant to the laws of Missouri or the United States;

  (3)  "Cryptocurrency", a digital currency in which transactions are verified and records are maintained by a decentralized system using cryptography;

  (4)  "Financial transaction", a transaction:

  (a)  Involving:

  a.  The movement of funds by wire or other means, including blockchain;

  b.  One or more monetary instruments; or

  c.  The transfer of title to any real property, vehicle, vessel, or aircraft; or

  (b)  Involving the use of a financial institution as defined under 31 U.S.C. Section 5312, as amended;

  (5)  "Monetary instruments":

  (a)  Currency and coin of the United States or of any other country, cryptocurrency, travelers' checks, personal checks, bank checks, bank wires, or money orders; or

  (b)  Investment securities or negotiable instruments, in bearer form or otherwise in such form that title thereto passes upon delivery;

  (6)  "Person", natural persons, partnerships, trusts, estates, associations, corporations and all entities cognizable as legal personalities;

  (7)  "Transaction", a purchase, sale, loan, pledge, gift, transfer, delivery, or other disposition, and with respect to a financial institution includes a deposit; withdrawal; transfer between accounts; exchange of currency; loan; extension of credit; purchase or sale of any stock, bond, certificate of deposit, or other monetary instrument; use of a safe deposit box; or any other payment, transfer, or delivery by, through, or to a financial institution, by whatever means effected.

  2.  A person commits the offense of money laundering if he or she:

  (1)  Conducts or attempts to conduct a financial transaction with the purpose to promote or aid the carrying on of criminal activity; or

  (2)  Conducts or attempts to conduct a financial transaction with the purpose to conceal or disguise in whole or in part the nature, location, source, ownership or control of the proceeds of criminal activity; or

  (3)  Conducts or attempts to conduct a financial transaction with the purpose to avoid financial transaction reporting requirements under federal law; or

  (4)  Conducts or attempts to conduct a financial transaction with the purpose to promote or aid the carrying on of criminal activity for the purpose of furthering or making a terrorist threat or act.

  3.  The offense of money laundering is a class B felony and in addition to penalties otherwise provided by law, a fine of not more than five hundred thousand dollars or twice the amount involved in the transaction, whichever is greater, may be assessed.

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(L. 1992 S.B. 705 § 10, A.L. 2002 S.B. 712, A.L. 2014 S.B. 491, A.L. 2022 H.B. 1472)