Money laundering refers to situations where you keep money that you know has been obtained through illegal criminal activity, or convert that money into property or other assets.
The offence of money laundering is very similar, but more serious than the “dealing with the proceeds of crime” offence under s 193C.
Money laundering is dealt with under section 193B of the Crimes Act.
There are essentially three different forms of money laundering under this section, each of which vary based on their seriousness and accordingly carry different penalties.
- If you deal with money that you know has been obtained through illegal criminal activity, and you use that money in order to conceal the fact that it has been obtained illegally, you could face a maximum penalty of 20 years imprisonment.
- If you simply deal with money that you know has been obtained through illegal criminal activity but do not make any move to conceal the fact that it was obtained illegally, you could face a maximum penalty of 15 years imprisonment.
- If you deal with money that has been obtained through illegal criminal activity but you were reckless as to whether it had been obtained through illegal criminal activity, you could face a maximum penalty of 10 years imprisonment.
Obviously, these are very harsh penalties – however they are maximum penalties; which means that they will only be imposed in the most serious cases.
However, if you have been charged with “money laundering,” it is in your best interests to get in touch with an experienced criminal lawyer as soon as possible.
Section 193B of the Crimes Act 1900 deals with the offence of “money laundering” and reads as follows:
193B Money laundering
(1) A person who deals with proceeds of crime:
(a) knowing that it is proceeds of crime, and
(b) intending to conceal that it is proceeds of crime,
is guilty of an offence. Maximum penalty: imprisonment for 20 years.
(2) A person who deals with proceeds of crime knowing that it is proceeds of crime is guilty of an offence. Maximum penalty: imprisonment for 15 years.
(3) A person who deals with proceeds of crime being reckless as to whether it is proceeds of crime is guilty of an offence. Maximum penalty: imprisonment for 10 years.
(4) It is a defence to a prosecution for an offence under this section if the defendant satisfies the court that the defendant dealt with the proceeds of crime to assist the enforcement of a law of the Commonwealth, a State or a Territory.
When you are facing charges in relation to money laundering, having the right legal team on your side can make all the difference in securing a positive outcome and avoiding heavy penalties.
Unlike other “general” law firms, our lawyers specialise in criminal law and are equipped with the expert knowledge and insight necessary to give you the best advice and representation when it comes to fighting the charges.
In every case, we seek to have the charges dropped at an early stage by carefully examining all the evidence and identifying any weaknesses in the prosecution case.
By writing to the prosecution and highlighting these issues, we are frequently able to have the charges dropped – thereby avoiding the time and expense involved in conducting a criminal trial or hearing.
Should your matter proceed to court, our highly respected lawyers will work alongside Sydney’s most esteemed criminal defence barristers in order to build a strong defence case that maximises your chances of being found “not guilty.”
If you wish to plead guilty to a money laundering offence, our lawyers can assist in presenting sentencing submissions which seek to persuade the judge to impose the most lenient penalty possible.
We take pride in our ability to consistently achieve exceptional results in money laundering, proceeds of crime and fraud cases.
Call us today on (02) 9261 8881 to book your FREE first conference and get Sydney’s best criminal defence team on your side.