Bill > HB707

This bill establishes the offense of financial institution accounts fraud, which involves accessing, using, or establishing a financial institution account through false or fraudulent means with the purpose of depriving the institution or customer of money. The bill defines various levels of criminal offense based on the amount of fraud and the perpetrator's mental state, ranging from a class B misdemeanor for fraud under $500 to a class B felony for purposeful fraud of $500 or more. The offense applies to financial institutions broadly defined, including banks, brokers, and mutual fund companies, and covers deposit, brokerage, and mutual fund accounts. The bill also creates graduated penalties: criminal negligence results in a class E felony, recklessness in a class D felony, knowingly acting results in a class C felony, and purposefully acting results in a class B felony. The bill specifies that a prosecutor may charge an alternative offense, but a person cannot be convicted under this section and another section for the same theft of money. This legislation aims to provide a comprehensive legal framework for prosecuting fraudulent activities targeting financial institution accounts, with penalties that escalate based on the severity and intent of the fraudulent action.

Budget and Finance, Business and Industry, Government Affairs

https://house.mo.gov/Bill.aspx?bill=HB707&year=2025&code=R