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Money Laundering

Money Laundering is an offence under Section 193B of the Crimes Act 1900, which carries a maximum penalty of 10 years in prison where the prosecution proves that:

  1. You dealt with proceeds of crime, and
  2. You were reckless as to whether the proceeds were derived from crime.

The maximum penalty increases to 15 years where the prosecution proves that:

  1. You dealt with proceeds of crime, and
  2. You knew the proceeds were derived from crime.

The maximum increases to 20 years where the prosecution proves that:

  1. You dealt with proceeds of crime,
  2. You knew the proceeds of crimes were derived from crime, and
  3. You intended to conceal that the proceeds were derived from crime.

‘Proceeds of Crime’ is defined as:

Property that is substantially derived or realised, directly or indirectly, by any person from the commission of a serious offence.

‘Serious offence’ is defined as:

  1. Any offence that can be prosecuted ‘on indictment’ (ie in a higher court)
  2. Any supply of a restricted substance, or
  3. Any equivalent offence committed outside NSW.

‘Deal with’ includes:

  1. Receiving, possessing, concealing or disposing of
  2. Bringing or causing to be brought into NSW, by electronic transfer, or
  3. Engaging directly or indirectly in a transaction, including receiving or giving a gift.

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