Criminal Code Act 1995

Schedule - The Criminal Code  

Section 3

CHAPTER 10 - NATIONAL INFRASTRUCTURE  

Part 10.2 - Money laundering  

Division 400 - Money laundering  

SECTION 400.7   Proceeds of crime etc. - money or property worth $1,000 or more  

(1)    
A person commits an offence if:

(a)    the person deals with money or other property; and

(b)    

either:

(i) the money or property is, and the person believes it to be, proceeds of indictable crime; or

(ii) the person intends that the money or property will become an instrument of crime; and

(c)    at the time of the dealing, the value of the money and other property is $1,000 or more.

Penalty: Imprisonment for 5 years, or 300 penalty units, or both.

(2)    
A person commits an offence if:

(a)    the person deals with money or other property; and

(b)    

either:

(i) the money or property is proceeds of indictable crime; or

(ii) there is a risk that the money or property will become an instrument of crime; and

(c)    

the person is reckless as to the fact that the money or property is proceeds of indictable crime or the fact that there is a risk that it will become an instrument of crime (as the case requires); and

(d)    at the time of the dealing, the value of the money and other property is $1,000 or more.

Penalty: Imprisonment for 2 years, or 120 penalty units, or both.

(3)    
A person commits an offence if:

(a)    the person deals with money or other property; and

(b)    

either:

(i) the money or property is proceeds of indictable crime; or

(ii) there is a risk that the money or property will become an instrument of crime; and

(c)    

the person is negligent as to the fact that the money or property is proceeds of indictable crime or the fact that there is a risk that it will become an instrument of crime (as the case requires); and

(d)    at the time of the dealing, the value of the money and other property is $1,000 or more.

Penalty: Imprisonment for 12 months, or 60 penalty units, or both.

(4)    
Absolute liability applies to paragraphs (1)(c) , (2)(d) and (3)(d) .

Note 1:

Section 400.10 provides for a defence of mistake of fact in relation to these paragraphs.

Note 2:

Section 400.2A affects the application of this section so far as it relates to a person dealing with money or other property that:

(a) is intended by the person to become an instrument of crime; or

(b) is at risk of becoming an instrument of crime.