White Collar & Corporate
9. Money Laundering
Authors: Staff Legal Eagle
Firm / Chambers:
Last updated: 16 Sep 2015
- Money laundering offences are governed by both Commonwealth and state or territory laws. As a result it is quite a complex area of law.
- These offences are in place to deal with financial gains or profits that flow from other criminal activity such as fraud, drugs trafficking or obtaining money by deception.
- Sometimes a money laundering charge will accompany other charges. In some cases a money laundering charge will stand alone such as if a third party helps others who are involved in a criminal operation to use the money they gained illegally.
- Often in these cases the prosecution will seek court orders to seize and preserve assets for the duration of the case.
- Under Commonwealth law these offences can be committed intentionally, negligently and recklessly.
- The penalties increase in seriousness depending on the amount of knowledge the person had about the illegally obtained money and the amount of money involved. These are serious offences that attract imprisonment terms and fines.
- For more information see our topic on Proceeds of Crime.
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