• Specific Year
    Any

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.