The Australian Federal Police (AFP) have created a new anti-money laundering task force, dubbed “Avarus.” The multi-agency task force will focus on “sophisticated, international groups with one purpose – to provide a shadow economy enabling crime.”
arrest of nine people involved in a Sydney-based multimillion-dollar crime ring
The authorities have had some success cracking down on major criminal operations recently, including an investigation that led to the arrest of nine people involved in a Sydney-based multimillion-dollar crime ring. The group was attempting to launder money across multiple jurisdictions, using casino junkets as one vehicle for money movement. Police seized AU$200m ($134m) worth of assets in this case, as well as AU$30m ($20m) worth of cryptocurrency.
Money laundering has been an issue for some time in Australia, highlighted by investigations into major casinos. Casino companies Star Entertainment, SkyCity, and Crown Resorts have all been found to have committed an array of money laundering-related breaches, leading to a strict crackdown on the way in which these casino companies can operate.