Australia pours millions into Pacific banks to counter China influence
Ronald MizenSenior reporter
Australia will spend millions of dollars to help Pacific island nations strengthen their financial systems against money laundering and financial crime in an effort to stop Western banks from withdrawing from the region.
The Albanese government has become concerned about local banks pulling services from the Pacific because of heightened risks around breaching anti-money laundering and counterterrorism financing (AML/CTF) laws.
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