Australian authorities, with assistance from the country’s financial watchdog AUSTRAC, have charged two men involved in an international money-laundering operation. The authorities were investigating an organized crime network involved in fraud and illegal transfer of large funds to offshore accounts.
The two detainees facilitated numerous transactions to overseas accounts while not being registered with AUSTRAC to provide this service. Additionally, during their searches, authorities seized more than $170,000 in cash, silver worth $55,000 and gold worth $5000.
The authorities have charged both detainees with multiple counts of providing designated remittance services while unregistered under Australia’s AML/CFT Act of 2006 and dealing with property proceeds of crime greater than $100,000, among others.
Source: AUSTRAC