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

9   After section 400.2A of the Criminal Code

Insert:

400.2B Proceeds of crime etc. - money or property worth $10,000,000 or more

Tier 1 offences

(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 $10,000,000 or more.

Penalty: Imprisonment for life.

(2) 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, and the person believes it to be, proceeds of general crime; and

(c) 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

(d) when the conduct occurs, the value of the money and other property is $10,000,000 or more.

Penalty: Imprisonment for life.

(3) 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, and the person believes it to be, proceeds of general crime; and

(c) 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

(d) 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 $10,000,000 or more.

Penalty: Imprisonment for life.

Tier 2 offences

(4) 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 $10,000,000 or more.

Penalty: Imprisonment for 15 years, or 900 penalty units, or both.

(5) 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 reckless 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 $10,000,000 or more.

Penalty: Imprisonment for 15 years, or 900 penalty units, or both.

(6) 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 reckless 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 $10,000,000 or more.

Penalty: Imprisonment for 15 years, or 900 penalty units, or both.

Tier 3 offences

(7) 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 $10,000,000 or more.

Penalty: Imprisonment for 6 years, or 360 penalty units, or both.

(8) 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 $10,000,000 or more.

Penalty: Imprisonment for 6 years, or 360 penalty units, or both.

(9) 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 $10,000,000 or more.

Penalty: Imprisonment for 6 years, or 360 penalty units, or both.

Absolute liability

(10) Absolute liability applies to paragraphs (1)(c), (2)(d), (3)(d), (4)(d), (5)(e), (6)(e), (7)(d), (8)(e) and (9)(e).

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.