THE LAW ON DEALING WITH THE PROCEEDS OF CRIME
The criminal offence of dealing with the proceeds of crime is a serious indictable offence than is open to severe consequences. If you or anyone you know have been accused or charged with the offence of dealing with the proceeds of crime, contact our specialised criminal lawyers at Criminal Lawyers Group immediately for a free consultation so that we may secure the best outcome for you.
WHAT ARE THE OFFENCES AND PUNISHMENTS FOR DEALING WITH THE PROCEEDS OF CRIME?
Dealing with the proceeds of crime is a criminal offence pursuant to Section 193 of the Crimes Act 1900 (NSW). The section defines the term ‘proceeds of crime’ as ‘any property that is substantially derived or realised, directly or indirectly, by any person from the commission of a serious offence’.
Section 193B of the Crimes Act 1900 (NSW) constitutes it a criminal offence to deal with proceeds of crime knowing that it is proceeds of crime, with a maximum penalty of 15 years imprisonment.
A person who is convicted of dealing with proceeds of crime being reckless as to whether it is proceeds of crime is guilty of an offence and liable to a maximum penalty of 10 years imprisonment.
A person who is convicted of dealing with proceeds of crime, knowing that it is proceeds of crime, and intending to conceal that it is proceeds of crime is liable for a maximum penalty of 20 years imprisonment.
DEALING WITH PROPERTY SUSPECTED OF BEING PROCEEDS OF CRIMES
Section 193C of the Crimes Act 1900 (NSW) makes it a criminal offence to deal with property of which there exists reasonable grounds to suspect the property is proceeds of crime.
If at the time of the dealing, the value of the property is $5 million or more, the maximum penalty is 8 years imprisonment. If at the time of the dealing, the value of the property is $100,000 or more but less than $5 million, the maximum penalty is 5 years imprisonment, whilst a maximum penalty of 3 years imprisonment applies if at the time of the dealing, the value of the property is less than $100,000.
SYDNEY WOMAN CHARGED WITH DEALING WITH PROCEEDS OF CRIME
Sydney woman Xiaoli Xue was arrested and charged with 20 offences which included knowingly dealing with the proceeds of crime with intent to conceal, dishonestly obtaining a financial advantage by deception, and conveying tobacco products with the intent to defraud arising from allegations that she laundered millions of dollars of illegal tobacco funds through fraudulent mortgages linked to an international crime ring.
Xiaoli is alleged to have laundered almost $7 million since 2020 through seven fraudulent mortgages. It is alleged that Xiaoli used fraudulent documents that inflated her income to be granted 10 loans at various banks and that she laundered funds on behalf of the wider crime network through mortgage repayments.
It is alleged that the majority of the funds stemmed from the illegal tobacco trade.
Xiaoli was refused bail, before appearing at Burwood Local Court on 28 February 2025 and being granted strict conditional bail. She is due to next face Court on 30 April 2025.
CRIMINAL LAWYERS GROUP SECURE ANOTHER NOT GUILTY VERDICT
Our Principal and award-winning criminal lawyer Mr Steven Mercael recently represented a woman who was accused and charged with the criminal offence of dealing with money reasonably suspected of being the proceeds of crime. Mr Mercael argued his client had no reasonable grounds to suspect the money was proceeds of crime as money was often transferred to his client as part of her occupation. Mr Mercael’s client was found not guilty and she joins the long list of Criminal Lawyers Group clients who have been found not guilty of serious criminal offences.
CONTACT CRIMINAL LAWYERS GROUP NOW
If you or anyone you know have been accused or charged with the offence of dealing with the proceeds of crime, contact our expert criminal lawyers at Criminal Lawyers Group immediately for a free consultation. Our award-winning team of criminal law experts have proven results in securing not guilty verdicts and avoiding serious penalties for our clients across NSW who have been charged with the offence of dealing with the proceeds of crime.