Bill
Crimes Legislation Amendment (Economic Disruption) Bill 2020
passed, as at 2021-02-16. Home Affairs portfolio.
- Sponsor
- Not recorded
- Portfolio
- Home Affairs
Recorded stages
- introduced — 2020-09-02
- second reading — 2020-09-02
- second reading — 2020-12-10
- second reading — 2020-12-10
- third reading — 2020-12-10
- introduced — 2020-12-10
- second reading — 2020-12-10
- second reading — 2021-02-03
- second reading — 2021-02-03
- third reading — 2021-02-03
- passed — 2021-02-03
- royal assent — 2021-02-16
Divisions
No divisions recorded. Most questions are decided on the voices; this does not establish that a bill was unopposed.
Plain-language summary
Written by a model from the explanatory memorandum; not the record, as at 2020-09-02.
The bill would help Commonwealth agencies disrupt the profits of transnational organised criminal groups.
It would change money laundering laws to target the controllers of laundering networks who avoid direct contact with money.
Schedules would also close loopholes for undercover police cautions, stop criminals buying back forfeited property, and clarify that 'benefit' includes avoiding debts or taxes.
- Extends money laundering offences to people who cause a criminal dealing with money or property to occur, capturing network controllers.
- Creates new offences for dealing with money or property valued at $1,000,000 or more where it is reasonably suspected to be proceeds of indictable crime.
- Adds another tier of offences for money or property valued at $10,000,000.
- Clarifies that caution and other obligations on investigating officials under Part IC of the Crimes Act do not apply to undercover operatives.
- Prevents criminal entities from using buy-back applications for forfeited property and ensures buy-backs are not funded by illicit money or unexplained wealth.
- Increases penalties for non-compliance with information-gathering powers under the Proceeds of Crime Act 2002.
Commonwealth agencies, transnational organised criminal groups, money laundering network controllers, undercover operatives, and the Official Trustee in Bankruptcy.
Sources
em
em supp
billhome
frl act