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ClubsNSW whistleblower reveals the ‘alarming’ scale of money laundering in pokies rooms at local clubs and pubs

A whistleblower and former employee of ClubsNSW has claimed that money laundering through poker machines is rife in pubs and clubs across the country. In an exclusive interview with the ABC, Troy Stolz, a former ClubsNSW anti-money laundering and counter-terrorism finance (AML/CTF) compliance auditor, said that the scale of the… Read More

The multi-million-dollar ‘dummy director’ scam using vulnerable Australians to rip off the tax office

Sitting in the gloom of his housing commission apartment amid a smell of stale cigarettes and motor oil, you would not know Rod Jackson was a director of more than two dozen companies. Then again, neither would he. “They’ve really stuck me in the shit, haven’t they?” Mr Jackson croaks… Read More

ASX oil firm mired in $15m PNG bribery scandal

A nine-year-old payment in Papua New Guinea is threatening to derail the Australian-listed Horizon Oil, after it repeatedly ignored corruption warnings and paid $US10.3 million ($15.4 million) to an unknown shell company. Lawyers working on the 2011 deal flagged links to PNG’s then petroleum minister William Duma and warned an… Read More

10th February 2020

Crown casino’s ‘Mr Chinatown’ arrested and deported to China

The Crown casino high-roller and junket partner known as “Mr Chinatown” – who is also a business partner of the Chinese president’s cousin – has been arrested and extradited to China for suspected money laundering and corruption. Crown Resorts regarded Tom Zhou as a “very, very important person” and paid… Read More

7th February 2020

Sydney man allegedly stole identities to net $11m from life savings, superannuation

A 31-year-old man has been charged over an $11 million cyber fraud in which he allegedly obtained the financial profiles and identities of more than 80 people to create fraudulent bank accounts and steal from their savings and superannuation accounts. Adam Jones, originally from South Australia, was arrested at a… Read More

6th February 2020

U.S. class actions pile up against Australia’s Westpac amid money-laundering scandal

Australia’s No.2 lender Westpac Banking Corp was hit with another U.S. class-action lawsuit in less than a week on Monday, over issues with its financial crime monitoring amid a recent money laundering scandal. Westpac was sued by Australia’s financial crime watchdog AUSTRAC in November for 23 million alleged breaches of… Read More

31st January 2020

US firm lobs second class action against Westpac over AUSTRAC Scandal

An American investor rights law firm claims it has filed a class action against Westpac, making it the second firm to take the lender to court over the money-laundering scandal that engulfed the bank late last year. Rosen Law Firm is calling on investors who purchased Westpac shares on the… Read More

30th January 2020

Years of Turmoil and a Day of Action

On January 23, 2020, the Internal Revenue Service published a news release titled “Global tax chiefs undertake unprecedented multi-country day of action to tackle international tax evasion.” The announcement highlighted a coordinated effort across the United Kingdom, United States, Canada, Australia and the Netherlands to combat money laundering and… Read More

28th January 2020

Taxman unearths £200m in joint operation

HM Revenue & Customs has helped uncover £200m worth of suspected tax evasion and money laundering in the UK. The action — which occurred as part of a series of investigations in Australia, Canada, the Netherlands, the US and the UK — is centred around a Central American financial institution… Read More

24th January 2020

Global Tax Crackdown Targets Central American Financial Firm

A Central American financial institution is suspected of helping clients worldwide evade taxes and launder money, according to tax investigators from the U.S., the Netherlands and three other nations coordinating a crackdown. Clients at the unidentified firm “may be using a sophisticated system to conceal and transfer wealth anonymously,” the… Read More

24th January 2020

Former Australian prosecutor Roger Griffith allegedly involved in drug syndicate, money laundering

A former solicitor and crown prosecutor accused of being involved in a crime syndicate allegedly helped the organisation’s attempts to move into wholesale drug dealing. Former Cairns Department of Public Prosecutions boss Roger Griffith faced a two-day committal hearing in Cairns Magistrates Court, charged with two counts each of drug… Read More

23rd January 2020

Westpac appoints John McFarlane as new chairman amid money laundering scandal

Westpac has named veteran banker John McFarlane as its next chairman as it confronts the fallout from a massive money laundering scandal revealed last November. Mr McFarlane is a former chief executive of the ANZ Bank and was chairman of British bank Barclays until May last year. More than… Read More

22nd January 2020

Compliance jobs in demand a year after Australia’s Hayne commission

Credit analysts, loan writers and anti-money laundering experts have joined the ranks of sought after support staff, compliance officers and risk professionals as banks look to close the gaps that leave them vulnerable to rivals and regulatory threats. A report on hiring trends from global recruitment company Hays Employment has… Read More

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