NSW money laundering penalties
Part 4AC of The Crimes Act NSW contains specific offence provisions which relate to people who possess or deal in the proceeds of crime or instruments of crime.
Much like their Commonwealth equivalents, the NSW legislation separates the offences depending upon the level of knowledge and involvement of the individual in the property that makes up the proceeds of the crime.
The NSW legislation makes no distinction between the amount or value of the property being dealt with but it does contain a variety of different offences based on what the Crown can prove the person knew about the property they were dealing in.
These offences are complex and contain a variety of different formulations.
The specific provisions
Section 193B(1) provides that a person who deals in the proceeds of crime knowing that it is proceeds of crime, and intending to conceal that it is proceeds of crime, is guilty of an offence. The maximum penalty for this offence is twenty years imprisonment.
This offence will be strictly indictable and will be heard in the District Court of New South Wales.
It is also an offence simply to deal in the proceeds of crime (without trying to conceal that they are proceeds of crime) or recklessly dealing in the proceeds of crime.
It is a lesser offence under s193C if someone deals in property for which there are reasonable grounds to suspect that it is the proceeds of crime. This offence carries a maximum of two years imprisonment.
It is a defence to that provision if the person can show that they had no reasonable grounds for suspecting that the property was the proceeds of crime.
The act also provides for offences relating to dealing in property that becomes an instrument of crime. An instrument of crime is defined as property used in the commission of or to facilitate a crime. These offences can carry up to fifteen years imprisonment.
WHERE TO NEXT?
If you suspect that you may be under investigation, or if you have been charged with an offence, it is vital to get competent legal advice as early as possible. Our lawyers are highly specialised in corporate crime and will be able to guide you through the process while dealing with the various authorities related to your matter.