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

62   Before subsection 400.9(1) of the Criminal Code

Insert:

(1AA) A person commits an offence if:

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

(b) it is reasonable to suspect that the money or property is proceeds of indictable crime; and

(c) at the time of the dealing, the value of the money and other property is $10,000,000 or more.

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

(1AB) A person commits an offence if:

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

(b) it is reasonable to suspect that the money or property is proceeds of indictable crime; and

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

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