Bill > SB98

This bill creates the offense of financial institution accounts fraud, which involves using false pretenses, fraudulent devices, electronic means, or coercive schemes to withdraw or transfer money from a financial institution account with the purpose of depriving the financial institution or its customer of the money. The bill establishes a graduated penalty system based on the amount of fraud and the defendant's mental state. For fraud amounts less than $500, it is a class B misdemeanor. For fraud amounts of $500 or more, the offense ranges from a class E felony (if committed with criminal negligence) to a class B felony (if committed purposefully). The bill defines key terms such as "financial institution" and "financial institution account" broadly, including deposit accounts, brokerage accounts, and mutual fund accounts. The legislation aims to provide legal recourse and appropriate punishment for various forms of financial fraud targeting banking and financial accounts, with the severity of the punishment increasing based on the amount of money involved and the intentionality of the perpetrator's actions.

Budget and Finance, Business and Industry, Government Affairs

https://www.senate.mo.gov/25info/BTS_Web/Bill.aspx?SessionType=R&BillID=237