The Australian Federal Police (AFP)’s Criminal Assets Confiscation Taskforce (CACT) has seized assets worth AUD 4 million ($2.79m) of a West Australia man as part of an international money laundering and tax fraud investigation. The seized assets include money in bank accounts, an apartment and another property.
The CACT began its investigation in 2020 after being notified of suspicious banking activity and large funds transfers between bank accounts in West Australia and Thailand in connection to the West Australia man. The authorities ordered the 60-year-old convict to forfeit over $2.4m in illicit funds and an apartment worth around $407.6k.
Most of the illicit funds were in bank accounts in both Australia and Thailand. As such, the AFP received assistance from various Thai agencies to resolve the financial aspects of this investigation. The forfeited funds will be held in the government’s Confiscated Assets Account, to be used for public benefit.
Source: Australian Federal Police
