HB0043HS001

This amendment expands the definition of financial institutions covered by anti-money laundering law, removes subjective 'reasonably should know' standards from money laundering offense elements, and clarifies that transaction reporting applies broadly including to entities licensed by the Wyoming gaming commission.

• Expands the definition of 'financial or business institution' to explicitly include any entity licensed by the Wyoming gaming commission, beyond just casinos. (Page 2, line 3)
• Clarifies that transaction reporting requirements apply to any entity defined as a financial institution under federal law (31 U.S.C. 5312(a)(2)), broadening the scope of covered institutions. (Page 2, line 6)
• Removes the 'or reasonably should know' standard from the first element of money laundering offense, requiring only that a person 'knows' property is derived from criminal activity. (Page 2, line 14)
• Removes the 'or reasonably' language from the second element of money laundering offense, making the knowledge standard stricter. (Page 2, line 19)
• Removes the 'should know' language from the second element of money laundering offense, requiring actual knowledge rather than imputed knowledge. (Page 2, line 20)
• Removes the 'or reasonably should know' standard from the illegal investment offense definition, replacing subjective knowledge standards with actual knowledge requirements. (Page 3, line 2)

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