FINANCIAL TRANSACTION REPORTS ACT 1988 - SECT 30 Incomplete information
FINANCIAL TRANSACTION REPORTS ACT 1988 - SECT 30
Incomplete information(1) A cash dealer commits an offence against this section if the dealer, in communicating information to the AUSTRAC CEO in relation to a transaction as required under Part II, knows that the information is incomplete in relation to the transaction.
(2) A financial institution commits an offence against this section if the institution, in maintaining the institution's exemption register as required under Division 1 of Part II, knows that the register is incomplete.
(3) A person commits an offence against this section if the person, in communicating information to the AUSTRAC CEO in relation to a transaction as required under section 15A, knows that the information is incomplete in relation to the transaction.
(4) A person who commits an offence against this section is punishable, upon conviction, by a fine of not more than 10 penalty units.
Note: If a body corporate is convicted of an offence, subsection
4B(3) of the Crimes Act 1914 allows a court to impose a fine that is not
greater than 5 times the maximum fine that could be imposed by the court on an
individual convicted of the same offence. The amount of a penalty unit is
stated in section 4AA of that Act.