Section 243 — Crimes Act 1961: Money laundering

243 Money laundering (1) For the purposes of this section and sections 244 and 245 ,— conceal , in relation to property, means to conceal or disguise the property; and includes, without limitation,— (a) to convert the property from one form to another: (b) to conceal or disguise the nature, source, location, disposition, or ownership of the property or of any interest in the property deal with , in relation to property, means to deal with the property in any manner and by any means; and includes, without limitation,— (a) to dispose of the property, whether by way of sale, purchase, gift, or otherwise: (b) to transfer possession of the property: (c) to bring the property into New Zealand: (d) to remove the property from New Zealand interest , in relation to property, means— (a) a legal or equitable estate or interest in the property; or (b) a right, power, or privilege in connection with the property proceeds , in relation to a serious offence, means any property that is derived or realised, directly or indirectly, by any person from the commission of the offence property means real or personal property of any description, whether situated in New Zealand or elsewhere and whether tangible or intangible; and includes an interest in any such real or personal property serious offence means an offence punishable by imprisonment for a term of 5 years or more; and includes any act, wherever committed, that, if committed in New Zealand, would constitute an offence punishable by imprisonment for a term of 5 years or more. (2) Subject to sections 244 and 245 , every one is liable to imprisonment for a term not exceeding 7 years who, in respect of any property that is the proceeds of a serious offence, engages in a money laundering transaction, knowing or believing that all or part of the property is the proceeds of a serious offence, or being reckless as to whether or not the property is the proceeds of a serious offence. (3) Subject to sections 244 and 245 , every one is liable to imprisonment for a term not exceeding 5 years who obtains or has in his or her possession any property (being property that is the proceeds of a serious offence committed by another person)— (a) with intent to engage in a money laundering transaction in respect of that property; and (b) knowing or believing that all or part of the property is the proceeds of a serious offence, or being reckless as to whether or not the property is the proceeds of a serious offence. (4) For the purposes of this section, a person engages in a money laundering transaction if, for the purpose of concealing any property or enabling another person to conceal any property, that person— (a) deals with that property; or (b) assists any other person, whether directly or indirectly, to deal with that property. (5) In any prosecution for an offence against subsection (2) or subsection (3) ,— (a) it is not necessary for the prosecution to prove that the accused knew or believed that the property was the proceeds of a particular serious offence or a particular class of serious offence: (b) it is no defence that the accused believed any property to be the proceeds of a particular serious offence when in fact the property was the proceeds of another serious offence. (6) Nothing in this section or in sections 244 or 245 limits or restricts the operation of any other provision of this Act or any other enactment. Compare: 1961 No 43 ss 233 , 257A(1)-(5) Part 10 (comprising sections 217 to 305) was substituted by a new Part 10 (comprising sections 217 to 272), as from 1 October 2003, by section 15 Crimes Amendment Act 2003 (2003 No 39).