Tag: Australia

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NEWS: Australian police seize €5M (AUD$ 8M) in ‘record’ money laundering bust

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Australia launches new guide in bid to stop criminals committing disaster relief fraud

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AUSTRAC tells Senate hearing that criminals are laundering tens of billions in Australian real estate each year

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Australian regulator files civil proceedings against Westpac for compliance failures; Deputy Chair slams bank for ‘poor compliance culture’

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Launderers in Australia using ‘pokies’ to cleanse millions in dirty profits through gambling, says chief investigator

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Weak AML laws in Australia ‘locking citizens out of their own home’, Transparency International tells Senate hearing

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‘Disappointing’ that none of Australia’s big four banks will send reps to AML inquiry – Senator

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DNFBPs are causing ‘inherent vulnerabilities’ in Australia’s AML defences, Federal Police warn

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Australia’s NAB has unloaded at least 40,000 customers in two years following extensive KYC review, Parliament told

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Several arrests in Australia as 12-month investigation closes in on ‘largest money laundering operation’ of its kind

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Shares in Australian gambling giant Star Entertainment plunge after money laundering claims

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NAB chief exec confirms bank is examining millions of customer accounts to ‘plug’ holes in AML framework

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Memorandum of Understanding between OFAC and the Swiss State Secretariat for Economic Affairs
OFAC
May 16, 2025
The Department of the Treasury's Office of Foreign Assets Control (OFAC) has published its Memorandum of Understanding with Switzerland's State Secretariat for Economic Affairs (SECO).
Crime group used light aircraft to smuggle cocaine haul to UK
National Crime Agency
May 16, 2025
A qualified pilot used his light aircraft in a bid to smuggle cocaine into the UK. Pilot Anastasios Balian, 52, and accomplice Errol McCardo Weir, 48, admitted trying to bring 30kg of the Class A drug into the country, following a National Crime Agency investigation. On 20 March this year, they were stopped by Border Force officers at North Weald airfield in Epping, Essex, after landing from Belgium via Calais. Officers searched the small plane and discovered a concealment had been built into the rear seats. Inside it were 30 1kg blocks of cocaine with a street value of about £2.4m.
£2m fine for online operator Spreadex Limited
Gambling Commission
May 16, 2025
A gambling business will pay a £2,022,000 penalty after a Gambling Commission investigation revealed Anti-Money Laundering (AML) and social responsibility failings.
Spreadex Limited – which operates from Spreadex.com – will also have to undergo a third-party audit to ensure it is effectively implementing its anti-money laundering and safer gambling policies, procedures and controls. The failures were revealed during a compliance assessment in July 2023 and relate to the operator’s Gambling Commission licence to offer casino and fixed odds betting.