Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A person commits an offence if:
(a) either:
(i) the person moves one or more monetary instruments into Australia; or
(ii) the person moves one or more monetary instruments out of Australia; and
(b) the sum of the monetary instrument amounts is $10,000 or more; and
(c) a report in respect of the movement is not given in accordance with this section.
Penalty: Imprisonment for 2 years or 500 penalty units, or both.
Civil penalty
(2) A person must not:
(a) move one or more monetary instruments into Australia; or
(b) move one or more monetary instruments out of Australia;
if:
(c) the sum of the monetary instrument amounts is $10,000 or more; and
(d) a report in respect of the movement is not given in accordance with this section.
(3) Subsection (2) is a civil penalty provision.
Commercial carriers
(4) Subsections (1) and (2) do not apply to a person if:
(a) the person is a commercial passenger carrier; and
(b) the monetary instruments are in the possession of any of the carrier's passengers.
(5) Subsections (1) and (2) do not apply to a person if:
(a) the person is a commercial goods carrier; and
(b) the monetary instruments are carried on behalf of another person.
(6) A person who wishes to rely on subsection (4) or (5) bears an evidential burden in relation to that matter.
Requirements for reports under this section
(7) A report under this section must:
(a) be in the approved form; and
(b) contain the information specified in the AML/CTF Rules; and
(c) be given to the AUSTRAC CEO, a customs officer or a police officer; and
(d) comply with the applicable timing rule in the AML/CTF Rules.
Note 1: For additional rules about reports, see section 244.
Note 2: Division 8 of Part 15 sets out special enforcement powers relating to this section.
Note 3: See also section 18 (translation of foreign currency to Australian currency).