The Australian Federal Police (AFP) has highlighted the many money laundering cases it uncovered in 2021, warning financial criminals that the AFP’s onslaught against them will continue in 2022.
In 2021, the AFP successfully investigated several schemes that aimed to conceal criminal proceeds from authorities. In fact, the AFP pressed 96 money laundering charges in 2021. These include charges against criminals who misused ATM terminals to facilitate cryptocurrency exchanges. Other charges that the AFP pressed include dealing in money or property that are criminal proceeds.
The AFP has made it clear that it is investigating money laundering across Australia on its own as well as in collaboration with partner agencies and international law enforcement. For example, the AFP’s Operation Ghibli uncovered the laundering of millions of dollars to the Middle East through Outlaw Motor Cycle Gangs based in Australia and offshore.
The AFP has warned that serious money laundering-related offenses can even lead to life imprisonment. Moreover, the AFP-led Criminal Assets Confiscation Taskforce (CACT) ensures that offenders can no longer enjoy the proceeds and benefits of their crimes. Over the past 2.5 years, the CACT has restrained assets worth nearly AUD 490 million ($356m).
Source: Australian Federal Police