Australian Federal Police shows vigilance against Money Laundering

Australian Federal Police shows vigilance against Money Laundering – Unleashes New TaskForce to mitigate financial crimes.

AFP becomes active against Money Laundering and has organized a highly-skilled and multi-agency taskforce for catching financial criminals and mitigating Money Laundering. Int’l Reports have shown that every year, Millions of Dollars are laundered just in Australia.

Recent reports exposed large-scale and highly systematic Money Laundering activities driven by drug trafficking. AFP believes that billions of dollars are laundered in Australia every year. Here are a few insights into last year's Money Laundering statistics in Australia:

  • A gang in Sydney found laundering $1 million on an hourly basis in 2022
  • Organized crime is facilitating foreign nationals students to make multiple cash deposits in ATMs
  • Money Mules are actively found trafficking illicit money and promoting money laundering
  • Safe houses in Australia are found to have hidden millions of dollars
  • Dead Drop Zones were used to move large amounts through cash couriers in parks and bushlands
  • Baby formula, multi-vitamins, and high-end goods are used for Money Laundering by criminals
  • Criminals are using Identity Theft as a shelter and using the identity of innocent Australians to open up bank accounts to deposit laundered money
  • Illicit Money is used to purchase property and luxury goods.

TaskForce Avarus

Last Month, Taskforce Avarus busted a Chinese Australian Money Laundering Gang. Read full story

Avarus is now actively working and using the full power of the law to catch the money launderers. For this purpose, they have combined AFP, AUSTRAC, Australian Intelligence, and Border Force to unwind the complex money laundering knots and expose the criminals.

Publicly, the AFP and Commonwealth partners of the Taskforce will appear and keep the public updated with the latest happenings and proceedings.

The Taskforce with the collaboration and cooperation of overseas law enforcement will now be able to make offshore arrests.

So far, AFP has arrested 42 criminals, 66 are being charged and more than $250 million have been confiscated from crime syndicates. Overall in 2022, 82 money laundering offenses have been dealt with.

Wrap up

Since the AFP and the Taskforce Avarus are actively working against money laundering and other fin crime, they are helping the regulatory bodies to implement the KYC and AML regulations. This has started showing off positive effects in the Australian community and people now are becoming more aware of the impact of money laundering. Moreover, senior Australian Law Enforcement officials negate that Money Laundering is a victimless crime.

For more details visit:

New money laundering taskforce tackles lifeblood of organized crime | Australian Federal Police

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