Section 30-51-4 – Prohibited activity; criminal penalties; civil penalties.
A. It is unlawful for a person who knows that the property involved in a financial transaction is, or was represented to be, the proceeds of a specified unlawful activity to: (1) conduct, structure, engage in or participate in a financial transaction that involves the property, knowing that the financial transaction is designed in whole […]
Section 30-51-5 – Attorney fees; exception.
No provision of the Money Laundering Act shall apply to a financial transaction involving the bona fide fees an attorney accepts for representing a client in a criminal investigation or a proceeding arising from a criminal investigation. History: Laws 1998, ch. 113, § 5. ANNOTATIONS Effective dates. — Laws 1998, ch. 113, § 8, makes […]
Section 30-51-1 – Short title.
Sections 1 through 5 [30-51-1 to 30-51-5 NMSA 1978] of this act may be cited as the “Money Laundering Act”. History: Laws 1998, ch. 113, § 1. ANNOTATIONS Effective dates. — Laws 1998, ch. 113, § 8, makes the Money Laundering Act effective on July 1, 1998.
Section 30-51-2 – Definitions.
As used in the Money Laundering Act: A. “financial institution” means: (1) a bank, credit union, trust company or thrift institution or an agency or branch thereof; (2) a broker or dealer in securities or commodities; (3) an investment banker; (4) an investment company; (5) an issuer, redeemer or cashier of traveler’s checks, checks, money […]
Section 30-51-3 – Reports filed with the department of public safety; criminal penalties.
A. A financial institution in New Mexico that is required to file a report regarding a financial transaction under the provisions of the federal Currency and Foreign Transactions Reporting Act and the regulations promulgated pursuant to that act shall file a duplicate of that report with the department of public safety; provided, a financial institution […]