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NEWS: Australian Federal Police break up alleged AUD$10BN (€6.4BN) money-laundering scheme

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NEWS: France, Ireland and Latvia called out by EU for AML failures

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NEWS: PEPs law make politicians, families ‘guilty until proven innocent’ MPs claim in Ireland’s parliament

INSIGHT: New AML rules will change the EU’s financial crime prevention landscape for good. But what will change in practice?

By Alisha Houlihan for AMLi

The Australian Federal Police (AFP) have dismantled an alleged Chinese-Australian money laundering organisation that moved approximately AUD$10BN (€6.4BN) offshore while acquiring a blue-chip property portfolio including Sydney mansions, a luxury city building and hundreds of acres of land near Sydney’s second airport. 

Nine suspects were arrested and charged, including two alleged Chinese-Australian gangsters with a combined fortune estimated at more than AUD$1BN (€648M) on Wednesday, according to The Sydney Morning Herald. 

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Premium

NEWS: France, Ireland and Latvia called out by EU for AML failures

 Premium

NEWS: PEPs law make politicians, families ‘guilty until proven innocent’ MPs claim in Ireland’s parliament

INSIGHT: New AML rules will change the EU’s financial crime prevention landscape for good. But what will change in practice?

Regulatory Watch News

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  • Lithuania: Nine suspects detained in probe into €4 million fraud involving Covid-19 equipment

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