Serious offence

A serious offence is:

• any offence against a Commonwealth, state or territory law punishable by imprisonment for 2 years or more
• an offence against a law of a foreign country that involves an act or omission, and would be punishable by imprisonment for 2 years or more if it had occurred in Australia, 

See

Subsection 39B(2) of the AML/CTF Act