Compliance & Anti-Financial Crime
Leadership | Insight | Network

AML, Australia, Financial Crime, News

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

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. 

AML Intelligence
Subscribe now to have unlimited access

With our subscription, you will have unlimited access to the AML Intelligence site, updated daily with the latest analysis, opinion, and breaking news across the sector, newsletter delivered twice per week, access to our Global Bank Fines & Penalties database, free access to Boardroom Series and more!