Document ID: chunk:federal_register_of_legislation:C2025C00044:section:54
Version: federal_register_of_legislation:C2025C00044
Segment Type: section
Provision Reference: s 54
Character Range: 210990–212304

54  Reports about receipts of monetary instruments moved into Australia

Offence
 (1) A person commits an offence if:
 (a) the person receives one or more monetary instruments moved into Australia to the person; and
 (b) at the time of the receipt, the sum of the monetary instrument amounts is $10,000 or more; and
 (c) a report in respect of the receipt is not given in accordance with this section.
Penalty: Imprisonment for 2 years or 500 penalty units, or both.

Civil penalty
 (2) A person must not receive one or more monetary instruments moved into Australia to the person if:
 (a) at the time of the receipt, the sum of the monetary instrument amounts is $10,000 or more; and
 (b) a report in respect of the receipt is not given in accordance with this section.
 (3) Subsection (2) is a civil penalty provision.

Requirements for reports under this section
 (4) A report under this section must:
 (a) be in the approved form; and
 (b) contain the information specified in the AML/CTF Rules; and
 (c) be given to the AUSTRAC CEO, a customs officer or a police officer; and
 (d) be given before the end of 5 business days beginning on the day of the receipt.
Note 1: For additional rules about reports, see section 244.
Note 2: See also section 18 (translation of foreign currency to Australian currency).