The founder of an organisation dedicated to the eradication of modern slavery says careful and compliant reporting of suspicious transactions by banks would deliver a tremendous boost to stamping out crimes such as human trafficking, while banning whole industries risks merely forcing the problem underground.
Home Affairs Minister Peter Dutton with AUSTRAC CEO Nicole Rose. Banks are alive to AML/CTF risks after AUSTRAC secured more than $2 billion in penalties for non-compliance. Justin McManus
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James Frost writes about banking, funds management and superannuation. Based in Melbourne, James has been reporting on specialist business and finance topics for 15 years. Connect with James on Twitter. Email James at james.frost@afr.com
