Exclusive
Why diamond studded Swiss watches and luxury handbags worry AUSTRAC
Ronald MizenPolitical correspondent
Criminals using diamond studded watches, designer handbags, and high-end jewellery to launder their ill-gotten gains have been flagged as a “very high” risk by the financial crimes watchdog.
On Tuesday AUSTRAC chief executive Brendan Thomas revealed luxury goods, along with cash and real estate, had received the highest risk rating from authorities because they were “highly effective” for laundering money.
Loading...
Ronald Mizen is the Financial Review’s political correspondent, reporting from the press gallery at Parliament House, Canberra. Connect with Ronald on Twitter. Email Ronald at ronald.mizen@afr.com
Subscribe to gift this article
Gift 5 articles to anyone you choose each month when you subscribe.
Subscribe nowAlready a subscriber?
Introducing your Newsfeed
Follow the topics, people and companies that matter to you.
Find out moreRead More
Latest In Federal
Fetching latest articles