Crimes Legislation Amendment (Economic Disruption) Act 2021 (3 of 2021)

Schedule 1   Money laundering

Part 1   General amendments

Division 1   Amendments

Criminal Code Act 1995

35   After subsection 400.4(3) of the Criminal Code

Insert:

(3A) A person commits an offence if:

(a) the person engages in conduct in relation to money or other property; and

(b) the money or property is proceeds of general crime; and

(c) the person is negligent as to the fact that the money or property is proceeds of general crime; and

(d) the conduct concealed or disguised any or all of the following:

(i) the nature of the money or property;

(ii) the value of the money or property;

(iii) the source of the money or property;

(iv) the location of the money or property;

(v) any disposition of the money or property;

(vi) any movement of the money or property;

(vii) any rights in respect of the money or property;

(viii) the identity of any person who has rights in respect of the money or property;

(ix) the identity of any person who has effective control of the money or property; and

(e) when the conduct occurs, the value of the money and other property is $100,000 or more.

Penalty: Imprisonment for 4 years, or 240 penalty units, or both.

(3B) A person commits an offence if:

(a) on 2 or more occasions, the person engages in conduct in relation to money or other property; and

(b) for each occasion, the money or property is proceeds of general crime; and

(c) for each occasion, the person is negligent as to the fact that the money or property is proceeds of general crime; and

(d) for each occasion, the conduct concealed or disguised any or all of the following:

(i) the nature of the money or property;

(ii) the value of the money or property;

(iii) the source of the money or property;

(iv) the location of the money or property;

(v) any disposition of the money or property;

(vi) any movement of the money or property;

(vii) any rights in respect of the money or property;

(viii) the identity of any person who has rights in respect of the money or property;

(ix) the identity of any person who has effective control of the money or property; and

(e) the sum of the values of the money and other property (where each value is worked out as at the time when the relevant conduct occurred) is $100,000 or more.

Penalty: Imprisonment for 4 years, or 240 penalty units, or both.