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Asia-Pacific Drug Trade Thriving as Gangs Make Billions in Profits, UN Says

Asia’s drug lords have established new manufacturing hubs and maritime trafficking routes to ramp up the supply of methamphetamine across the Asia-Pacific, the United Nations crime agency said Thursday. The value of the drug trade in the region is estimated between $30.3 billion and $61.4 billion, the agency said. Seizures… Read More

Australia: Crown royal commission expanded after ‘significant’ revelations

Victoria’s royal commission into Crown Resorts has been extended substantially and had its funding doubled “due to the seriousness of evidence” heard so far, which has broadened the scope of the probe. Acting Premier James Merlino granted Commissioner Raymond Finkelstein’s request to continue the investigation until mid-October and increase its… Read More

NAB’s use of casual contract workers in financial crimes team adds to compliance concerns

The National Australia Bank has extensively used casual workers in its financial crimes department, adding to concerns about its ability to clean up its anti-money laundering compliance following a rebuke from the regulator this week. The Age and Sydney Morning Herald can reveal that NAB has been using contractors in… Read More

9th June 2021

Global sting began by creating message service for crooks

AP — When the FBI dismantled an encrypted messaging service based in Canada in 2018, agents noticed users moving to other networks. Instead of following their tracks to rivals, investigators decided on a new tactic: creating their own service. ANOM, a secure-messaging service built by the… Read More

8th June 2021

Global crackdown on organised crime after high-tech U.S.-Australia sting

U.S. and Australian authorities hacked into an app used by criminals to read millions of encrypted messages, leading to hundreds of arrests of suspected organised crime figures in 18 countries, Australian officials said on Tuesday. “Operation Ironside” by Australian police and the U.S. Federal Bureau of Investigation ensnared suspects in… Read More

8th June 2021

Australian watchdog warns against sly laundering scheme known as ‘cuckoo smurfing’

The Australian financial crimes watchdog has issued a warning to the finance sector to keep an eye out for a crafty money laundering method known as ‘cuckoo smurfing’. This unique method of money laundering is used by criminals to move illegal funds into and out of Australia by exploiting legitimate… Read More

8th June 2021

Qantas ‘disturbed’ by claims of gang infiltration

Qantas said it was “disturbed” by claims that some staff may have been involved in organised crime following an Australian media report that gangs had “infiltrated” the airline. The Nine newspapers and 60 Minutes reported the allegations based on a classified intelligence operation. It said agencies… Read More

7th June 2021

EML says Irish regulatory uncertainty is ‘a risk and challenge’

EML Payments said it continues to co-operate with the Central Bank of Ireland as it investigates “significant regulatory concerns” over anti-money laundering compliance, but added there is no statutory timeframe for the central bank to finalise its inquiry and acknowledged “ongoing uncertainty is a risk and challenge”. EML, which issues… Read More

7th June 2021

Australia expands money laundering probe into casinos

Australia is expanding an investigation into casinos over a potential breach of money laundering laws. Owners of the main casinos in Australia’s five biggest cities are now under formal investigation. National Australia Bank (NAB) and casino operators Crown Resorts, Star Entertainment Group and SkyCity Entertainment Group have all been included. Read More

31st May 2021

Far too flexible a friend: prepaid cards and the EU anti-money laundering directive

Michael McDowell warned his fellow senators in February to think twice before rubber-stamping the EU’s latest anti-money laundering (AML) directive. Even though Ireland was more than a year late in putting the directive on the statute books, a delay that is likely to cost €2 million in fines from Brussels,… Read More

26th May 2021

Australia: Concerns over OnlyFans’ role in sex, drug trafficking, money laundering

Adult content site OnlyFans is one among many subscription-based sites being watched by financial crime and law enforcement agencies as high-risk platforms that could potentially facilitate organised crime such as drug or sex trafficking, money laundering, or child exploitation. While the Australian Federal Police (AFP) and financial crime watchdog AUSTRAC… Read More

25th May 2021

‘Greater than previously thought’: Crown money laundering suspected as recently as February

Criminal infiltration of Crown Resorts is suspected to be greater than previously thought, with possible evidence of dirty money in its bank accounts as recently as February. Victoria’s royal commission into the James Packer-backed casino giant heard on Monday that suspected money laundering had been identified in 14 new bank… Read More

20th May 2021

Crown doing ‘bare minimum’ on cutting ties with junket operators, royal commission told

Crown Resorts’ own anti-money laundering manager was told “casinos had always been that way” when he tried to raise concerns about groups of high-roller gamblers, and was stymied when he tried to hire more team members, an inquiry has heard. Nick Stokes, the head of Crown’s Financial Crime arm, told… Read More

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