Money Laundering Lawyers
Have you been charged with Money Laundering in Qld?
Money laundering is a serious criminal offence in Queensland, with the potential for significant penalties including imprisonment. Being charged with money laundering if very overwhelming but seeking legal advice early will help give you the best opportunity for a successful defence.
Our highly experienced criminal lawyers have successfully defended or negotiated this type of charge on numerous occasions. Contact us today to speak to our experienced Brisbane criminal lawyers for a confidential review of your case.
What is money laundering?
Money laundering is hiding the origin of illegally obtained money to make it appear legitimate. This could include acts like transferring, concealing, or converting funds obtained through criminal activities such as drug trafficking, fraud, or theft. Money laundering is often associated with organised crime.
The process often involves multiple transactions designed to hide the illegal source of the money. In Queensland, the law focuses not just on large-scale operations but also on individuals who knowingly assist in moving or handling tainted funds. Money laundering activities vary in complexity, but some common examples include:
Depositing cash into multiple bank accounts to avoid detection.
Transferring funds overseas without declaring them.
Purchasing expensive assets like cars or properties with illicit funds.
Using businesses to ‘clean’ dirty money by mixing it with legitimate income.
In Queensland, money laundering offences are prosecuted under the section 250 Criminal Proceeds Confiscation Act 2002 (Qld). The severity of the charge often depends on the amount of money involved, length of time of the money laundering, the seriousness of the criminal activity, and the individual’s role in the laundering process.
What is the penalty?
Penalties can vary and including up to lengthy prison sentences. In serious cases, the maximum penalty is up to 20 years imprisonment.
What are the main factors to prove for money laundering?
In Queensland, a person may be charged with money laundering if they knowingly or recklessly:
Engage, directly or indirectly, in a transaction involving money or property that is tainted property.
Receive, possess, dispose of, or bring tainted property into Queensland.
Conceal or disguise the source, existence, nature, location, ownership, or control of tainted property.
What is tainted property?
Tainted property refers to any property connected to criminal activity, including:
Property obtained directly from committing a criminal offence.
Property acquired by converting or exchanging something obtained through a criminal offence.
For example, if someone uses proceeds from fraud to buy a car, the car becomes tainted property. If the car is later sold, the money received from the sale would also be tainted property.
Proving knowledge or recklessness
A person knowingly engages in money laundering if they know, or reasonably should know, that the property is tainted or connected to unlawful activity.
Alternatively, a person recklessly engages in money laundering if they are aware of a significant risk that the property is tainted and proceed anyway, even when taking that risk is unjustifiable in the circumstances.
Understanding these factors is essential, as charges of money laundering can have severe penalties. If you are facing allegations, seeking expert legal advice early is critical.
How is cryptocurrency used in money laundering?
Cryptocurrency is increasingly being used in money laundering due to its anonymity and ease of transferring funds across borders. Digital currencies have been used to conceal the origins of illicit money by converting it into cryptocurrency, transferring it between multiple wallets, or using platforms that do not enforce strict identification protocols.
In Australia, these activities are closely monitored under strict anti-money laundering laws, and the penalties can be severe.
What are strategies to defend money laundering charges?
Every case is unique. Defending against such charges requires detailed examination of the evidence and facts in your case.
Our experienced criminal lawyers will examine all possible arguments for your case, including whether the prosecution can prove that you knowingly or recklessly engaged in money laundering, or whether the money is tainted property. We will also evaluate the legality of police powers exercised during the search that resulted in the seizure of money and other critical evidence.
There may also be instances where it is appropriate for the prosecutor to downgrade the charge. If downgraded, the penalty could be reduced to a fine depending on the facts.
