Money laundering offences can be found in both state and Commonwealth legislation. Both provide a sliding scale of penalties depending on the type of conduct and level of knowledge of the person charged. Money laundering offences include a wide variety of conduct. They are relatively new offences that are increasingly being charged by police. The partners at Kingston Fox Lawyers have had extensive experience with these types of matters and can navigate this complex legislation and provide you with the best advice about your matter. Offences that fall under the term money laundering include:
- Deal with property reasonably suspected of being proceeds of crime - section 400.9 Criminal Code 1995 (Cth)
- Dealing with property suspected of being proceeds of crime - section 193C Crimes Act 1900 (NSW)
- Dealing with property that subsequently becomes the instrument of crime – section s193D Crimes Act 1900 (NSW)
- Dealing in proceeds of crime / money or property worth any value up to $1,000,000 or more – sections 400.3 – 400.8 Criminal Code 1995 (Cth)
The penalty for these offences depend on whether the property or cash is under or over $100,000.
The type of conduct that may amount to one of these offences includes:
- Bag drops, where a person carries large amounts of cash to deliver to another person
- Making several deposits under $10,000 to various unknown bank accounts, also known as structuring
- Having cash in your house or vehicle without being able to explain where it came from
- Transferring large sums of money to unknown people, either directly or through a bank or money remitter
- Tax avoidance schemes involving sham companies and making of cash payments
- Organising other people to make cash deposits overseas
- Swapping shares without a change in legal ownership to avoid capital gains tax
If you have been charged with one of these offences, contact Kingston Fox Lawyers for an obligation free meeting to discuss your options.