November 1, 2016
Australia and China agreed on Tuesday to share intelligence about potential financial crime as part of a crackdown on cross-border money laundering and the financing of terrorism. Australian Justice Minister Michael Keenan, who is in Beijing, said the agreement between Australian financial intelligence agency and its Chinese counterpart would allow both countries to target and disrupt organised criminal networks.
China has been trying to get increased international cooperation to hunt down suspected corrupt officials who have fled overseas since President Xi Jinping began a campaign against deeply-rooted graft more than three years ago. The intelligence sharing agreement will boost China’s pursuit of corrupt officials and business executives and their assets, a chase dubbed “Operation Foxhunt”.