✦ Plain-English Summary

Crimes Legislation Amendment (Economic Disruption) 2020

What it does

This bill strengthens Australia's laws against money laundering and makes it easier for authorities to seize and sell assets linked to crime. It also gives federal investigators more power to investigate serious Commonwealth crimes, and clarifies how courts handle criminal confiscation orders.

Why it matters

The changes help police and courts crack down on organised crime, corruption, and financial crimes by making it harder for criminals to hide or profit from illegal activity. Faster asset seizure means criminals can't use seized property to fund further crimes while cases drag through courts.

Key details

• Money laundering: Toughens penalties and reporting requirements to catch criminals hiding illegal money through the financial system
• Asset seizure: Allows authorities to sell seized assets earlier in legal proceedings, rather than waiting for a final court decision
• Investigator powers: Federal police get clearer authority to investigate Commonwealth crimes involving economic disruption
• Commencement: Most changes took effect the day after the bill received Royal Assent (late 2020), with some provisions conditional on related anti-money laundering legislation passing

Official Description

Amends the: Criminal Code Act 1995 to update money laundering offences; Crimes Act 1914 to clarify that certain obligations imposed on investigating officials do not apply to undercover operatives; Proceeds of Crimes Act 2002 to: ensure that buy-back orders cannot be used by criminal suspects and their associates to buy back property forfeited to the Commonwealth or to delay court proceedings; clarify that courts may make orders confiscating the value of a debt, loss or liability that has been avoided, deferred or reduced through criminal offending; clarify that courts with proceeds jurisdiction are able to make orders in respect of property located overseas; increase penalties for non-compliance with information-gathering powers, and clarify and expand the circumstances in which information gathered can be disclosed and used; enable the minister to make grants from the Confiscated Assets Account (CAA) to the States and Territories for crime prevention and certain other measures; and provide that money (other than a penalty) paid to the Commonwealth under a foreign deferred prosecution agreement that represents benefits or property derived from unlawful criminal activity must be credited to the CAA; and COAG Reform Fund Act 2008 and Proceeds of Crime Act 2002 to expand the Official Trustee in Bankruptcy's powers in relation to property, information gathering and cost recovery.

Committee Referrals

Senate Legal and Constitutional Affairs Legislation Committee; Parliamentary Joint Committee on Human Rights; Senate Standing Committee for the Scrutiny of Bills

No formal division recorded

This bill passed by voice vote — parliament agreed without calling a formal count. A division is only recorded when a member explicitly requests one.

No votes yet.

No votes were recorded for this bill.