Four arrested as Australian Federal Police dismantle alleged money laundering syndicate
A man police allege was caught trying to deposit $1 million of dirty money into a bank account has been arrested in dramatic scenes at Sydney airport.
A 36-year-old man allegedly caught attempting to deposit $1 million of dirty money in a Brisbane bank has been re-arrested at Sydney airport.
The man was referred to the Australian Federal Police by ANZ Bank’s financial crime team in October, prompting the force to launch an investigation into alleged money laundering.
An AFP spokesman said in the subsequent months four men have been charged with dealing with the proceeds of crime, with investigators to allege in court they were part of a syndicate that laundered more than $10 million.
“The syndicate is suspected of co-ordinating the collection of criminal proceeds through ‘dead drops’ of cash,” the spokesman said.
“The cash would be deposited into online banking accounts linked to the syndicate, then swiftly transferred into cryptocurrency.”
Police will allege the group has links to Sydney-based Korean and Middle Eastern organised crime figures.
The 36-year-old man was arrested in Brisbane in October, after allegedly attempting to deposit $1m into a bank, and charged with dealing with money believed to be proceeds of crime.
He released on bail to appear in a Brisbane court on December 6.
According to the AFP, the same man was re-arrested at Sydney airport on Tuesday and charged with one count of recklessly dealing in proceeds of crime worth $1 million or more.
Two men, aged 51 and 38, were arrested on November 17 as officers raided five properties in Milsons Point, Concord, Strathfield and Rhodes in Sydney.
Cash counting machines, two luxury watches, cash deposit receipts, electronic devices and cigarette manufacturing equipment were seized.
The fourth man, 34, was arrested days later on November 25.
Each of the men were remanded in custody on a charge of recklessly dealing with the proceeds of crime worth $1 million or more.
Detective Acting Superintendent Luke Needham said the arrests showed the AFP was “relentless” in pursuing those allegedly responsible for laundering dirty money through Australian financial systems.
“This criminal activity is not only bankrolling high-flying lifestyles, but it is often funding future criminal activity by offshore and Australian syndicates,” he said.
“The dedicated work of Taskforce Avarus means those who engage in money laundering and financial crime should be aware the AFP is working to track them down and prosecute to the full extent of the law.”
ANZ’s Head of Financial Crime Threat Management Milan Gigovic said the bank was committed to safeguarding the financial system from criminal exploitation.
“With zero tolerance for criminal activity, we leverage analytics to proactively work with law enforcement and government partners to disrupt and prevent financial crime, while supporting investigations, prosecutions and the recovery of illicit assets,” he said.
The four men will appear in Sydney’s Downing Centre Local Court on January 15.
Christmas in one of Australia’s toughest jails
Inside the walls of one of NSW’s most notorious prisons, work is underway to prepare a Christmas meal for thousands of inmates across the state.
‘New intel’ blows Shire cold case wide open
A new witness has come forward over the disappearance of two teenage girls in Sydney’s south, breaking the case open again after more than four decades.
Moment priest arrested on city street
Police hold concerns over what access an ex-priest has had to children after he was arrested on the streets of a major city amid an ongoing police investigation.