Australian Capital Territory Numbered Acts

PROCEEDS OF CRIME ACT 1991 (NO. 103 OF 1991) - SECT 74

(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 $100,000 or imprisonment for a period not exceeding 10 years, or both; or

        (b)     if the offender is a body corporate—a fine not exceeding $500,000.

(3) A person shall be taken to engage in money laundering 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 the Territory 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.