PROCEEDS OF CRIME ACT 1987 No. 87, 1987 - SECT 81
Money laundering
PROCEEDS OF CRIME ACT 1987 No. 87, 1987 - SECT 81
Money laundering
81. (1) In this section:
"transaction" includes the receiving or making of a gift.
(2) A person who, after the commencement of this Act, engages in money
laundering is guilty of an offence against this section punishable, upon
conviction, by:
(a) if the offender is a natural person-a fine not exceeding $200,000 or
imprisonment for a period not exceeding 20 years, or both; or
(b) if the offender is a body corporate-a fine not exceeding $600,000.
(3) A person shall be taken to engage in money laundering if, and only if:
(a) the person engages, directly or indirectly, in a transaction that
involves money, or other property, that is proceeds of crime; or
(b) the person receives, possesses, conceals, disposes of or brings into
Australia any money, or other property, that is proceeds of crime; and
the person knows, or ought reasonably to know, that the money or other
property is derived or realised, directly or indirectly, from some
form of unlawful activity.