15Reports in relation to transfer of currency into or out of Australia

15 Reports in relation to transfer of currency into or out of Australia

(1) Where: (a) a person: (i) transfers Australian currency or foreign currency out of Australia; or (ii) transfers Australian currency or foreign currency into Australia; and (b) the amount of currency involved in the transfer is not less than $10,000 in value; and (c) a report in respect of the transfer has not been given in accordance with this section; the person, subject to subsections (2), (3) and (4), commits an offence against this subsection. (1A) Strict liability applies to paragraph (1)(c).

Note: For strict liability, see section 6.1 of the Criminal Code.

(1B) Subsection (1) does not apply if the transfer occurred after the commencement of Division 1 of Part 4 of the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006.

Note: A defendant bears an evidential burden in relation to the matter in subsection (1B) (see subsection 13.3(3) of the Criminal Code).

(2) A commercial passenger carrier need not make a report in respect of currency in the possession of the carrier’s passengers. (3) A commercial goods carrier need not make a report in respect of currency carried on behalf of another person unless the other person has disclosed to the carrier that the goods include currency. (4) An ADI need not make a report in respect of currency transferred, on behalf of the ADI, by a commercial goods carrier. (5) Where: (a) a person (other than an ADI) receives Australian currency or foreign currency transferred to the person from outside Australia; and (b) the amount of currency received is not less than $10,000 in value; and (c) a report in respect of the transfer of the currency into Australia has not been made in accordance with subsection (1) before the transfer; and (d) a report in respect of the receipt of currency is not given in accordance with this section before the end of the period of 30 days commencing on the day of the receipt of the currency; the person commits an offence against this subsection. (5A) Strict liability applies to paragraphs (5)(c) and (d).

Note: For strict liability, see section 6.1 of the Criminal Code.

(5B) Subsection (5) does not apply if the currency was transferred after the commencement of Division 1 of Part 4 of the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006.

Note: A defendant bears an evidential burden in relation to the matter in subsection (5B) (see subsection 13.3(3) of the Criminal Code).

(6) A person who commits an offence against subsection (1) or (5) is punishable, upon conviction, by imprisonment for not more than 2 years.