Queensland Consolidated Acts

CRIMINAL PROCEEDS CONFISCATION ACT 2002 - SECT 250

250 Money laundering

(1) A person who engages in money laundering commits a crime.

Penalty—

Maximum penalty—

(a) for knowingly engaging in money laundering—3,000 penalty units or 20 years imprisonment; or

(b) for recklessly engaging in money laundering—1,500 penalty units or 10 years imprisonment.

(2) A person engages in money laundering if the person knowingly or recklessly—

(a) engages, directly or indirectly, in a transaction involving money or other property that is tainted property; or

(b) receives, possesses, disposes of or brings into Queensland money or other property that is tainted property; or

(c) conceals or disguises the source, existence, nature, location, ownership or control of tainted property.

(2A) For subsection (2) , a person knowingly does an act mentioned in subsection (2) (a) , (b) or (c) in relation to property (
"knowingly engaging in money laundering" ) if the person knows, or ought reasonably to know, that the property is tainted property or is derived from some form of unlawful activity.

(2B) For subsection (2) , a person recklessly does an act mentioned in subsection (2) (a) , (b) or (c) in relation to property (
"recklessly engaging in money laundering" ) if—

(a) the person is aware there is a substantial risk the property is tainted property or derived from some form of unlawful activity; and

(b) having regard to the circumstances known to the person, it is unjustifiable for the person to take the risk.

(2C) The question whether taking a risk is unjustifiable is one of fact.

(3) In applying this section to a financial institution, the fact that the financial institution is, or has been, subject to a monitoring order or a suspension order must be disregarded.

(3A) The Penalties and Sentences Act 1992 , section 161Q also states a circumstance of aggravation for an offence against this section.

(3B) An indictment charging an offence against this section with the circumstance of aggravation stated in the Penalties and Sentences Act 1992 , section 161Q may not be presented without the consent of a Crown Law Officer.

(4) In this section—

"tainted property" includes property that is tainted property because of an interstate confiscation offence.