Money Laundering (Proceeds of Crime)
Under section 193B of the Crimes Act 1900, a person commits an offence if they deal with proceeds of crime, and intending to conceal that it is proceeds of crime. Money or property is considered proceeds of crime if it is wholly or partly derived, realised, or obtained, whether directly or indirectly, from the commission of a criminal offence.
Proceeds of crime can also be dealt with “recklessly.” A person is considered reckless in dealing with proceeds of crime if they are aware of a substantial risk that the property or money might be proceeds of crime, and despite this awareness, they choose to deal with it anyway. This means they recognise the risk but decide to proceed regardless of the circumstances.
Maximum Penalty:
| Offence | Maximum penalty that can be imposed by the Local Court | Maximum penalty that can be imposed by the District Court |
| Knowingly deal with proceeds of crime with an intent to conceal that it is proceeds of crime | Not applicable | 20 years imprisonment |
| Knowingly deal with proceeds of crime (no intent to conceal) | Not applicable | 15 years imprisonment |
| Recklessly deal with proceeds of crime greater than $5,000 | 2 years imprisonment and/or $11,000 fine | 10 years imprisonment |
| Recklessly deal with proceeds of crime less than or equal to $5,000 and greater than $2,000 | 2 years imprisonment and/or $5,500 fine | 10 years imprisonment |
| Recklessly deal with proceeds of crime less than or equal $2,000 | 2 years imprisonment and/or $2,200 | 10 years imprisonment |
Money Laundering (Proceeds of General Crime)
Under section 193BA(1) of the Crimes Act 1900, a person is guilty of an offence if the person deals with proceeds of general crime with a value of $100,000 or more being reckless as to whether it is proceeds of general crime, and intending to conceal or disguise features of the property. Under section 193BA(3) of the Crimes Act 1900, a person is guilty of an offence if the person deals with proceeds of general crime with a value of $100,000 or more being reckless as to whether it is proceeds of general crime.
Recklessness is a fundamental element of both offences. Proceeds of crime can also be dealt with “recklessly.” A person is considered reckless in dealing with proceeds of crime if they are aware of a substantial risk that the property or money might be proceeds of crime, and despite this awareness, they choose to deal with it anyway. This means they recognise the risk but decide to proceed regardless of the circumstances.
Maximum Penalty:
| Offence | Maximum penalty that can be imposed by the Local Court | Maximum penalty that can be imposed by the District Court or Supreme Court |
| Recklessly dealing with proceeds of general crime with an intent to conceal with a value of $100,000 or more | Not applicable | 15 years imprisonment |
| Recklessly dealing with proceeds of general crime with a value of $100,000 or more | 2 years imprisonment and/or a fine of $11,000 | 10 years imprisonment |
Dealing with Property Suspected of Being Proceeds of Crime
Under section 193C of the Crimes Act 1900, a person is guilty of an offence if the person deals with property, and there are reasonable grounds to suspect that the property is proceeds of crime, and at the time of the dealing, the value of the property is $100,000 or more.
It is a defence to a prosecution for an offence under this section if the defendant satisfies the court that the defendant had no reasonable grounds for suspecting that the property was substantially derived or realised, directly or indirectly, from an act or omission constituting an offence against a law in force in the Commonwealth, a State or a Territory or another country.
Maximum Penalty:
| Offence | Maximum penalty that can be imposed by the Local Court | Maximum penalty that can be imposed by the District Court |
| Dealing with property suspected of being proceeds of crime ($5,000,000 or more) | 2 years imprisonment and/or $11,000 fine | 8 years imprisonment |
| Dealing with property suspected of being proceeds of crime (less than $5,000,000 and greater than or equal to $100,000) | 2 years imprisonment and/or $11,000 fine | 5 years imprisonment |
| Dealing with property suspected of being proceeds of crime (less than $100,000 and greater than $5,000) | 2 years imprisonment and/or $11,000 fine | 3 years imprisonment |
| Dealing with property suspected of being proceeds of crime (less than or equal to $5,000 and greater than $2,000) | 2 years imprisonment and/or $5,500 fine | 3 years imprisonment |
| Dealing with property suspected of being proceeds of crime (less than or equal $2,000) | 2 years imprisonment and/or $2,200 fine | 3 years imprisonment |