26th March 2020
An accounting firm at the centre of a massive tax avoidance scheme which exploited homeless and drug-addicted people has had its registration cancelled in the wake of an ABC investigation. Last month the ABC revealed a group of Victorian accountants were using people addicted to drugs and alcohol, the… Read More
25th March 2020
Two Sydney men have been jailed for their involvement in a $17 million money-laundering operation they helped run alongside a terrorist sympathiser. Ahmad Ali and Fouad Moussa, both 28, were sentenced in the NSW District Court after pleading guilty to the “unsophisticated” scheme which lasted six months before they were… Read More
24th March 2020
By David Klein  OCCRP — As COVID-19 shut down the world in less than a month, cybercriminals seized the opportunity to use the Internet to defraud and blackmail people and companies. The Australian Competition and Consumer Commission (ACCC) reported that their Scamwatch service has tracked nearly 100 coronavirus related scams… Read More
20th March 2020
A whistleblower and former employee of ClubsNSW is suing the organisation for around $2 million. Troy Stolz, who worked for ClubsNSW for nine years, is taking legal action in the Federal Circuit Court alleging bullying, sham contracting, underpayment and other breaches of the Fair Work Act. The industry group represents… Read More
2nd March 2020
The financial crimes watchdog, one of the lead agencies in the Department of Home Affairs’ push to combat online child sex exploitation, has potentially bungled a case after sitting on evidence of potential crimes for more than a year. But the watchdog, Austrac, was not only too slow to call… Read More
26th February 2020
European regulators have identified vulnerabilities in the anti-money laundering and terrorism financing measures at Melco Resorts’ casino in Cyprus, an inquiry into Crown has heard. The Council of Europe’s anti-money laundering body, Moneyval, said in December 2019 that it had discovered “weaknesses” in compliance at the single casino on the… Read More
26th February 2020
Labor MPs have split over backing a government bill aimed at cracking down on crime syndicates that launder money through the black-market economy by banning the use of cash transactions of more than $10,000. The clash between MPs of Labor’s Left and Right factions over the proposed laws is threatening… Read More
24th February 2020
In 2017, Cheng Ting Kong was riding high. He co-owned a multi-million dollar business bringing high-roller gamblers from China into casinos around the country and he was busy building a $75 million dollar stake in Australia’s horse racing industry. But behind the scenes, Australia’s national criminal intelligence agency was watching… Read More
20th February 2020
Australia’s Westpac Banking Corp said on Wednesday its 2020 profit would be hit by a rise in costs related to improving risk management systems in the wake of a money-laundering scandal and the country’s deadly bushfires. Westpac, which previously expected a 1% increase in costs for the year, said those… Read More
18th February 2020
The man who spearheaded the United States’ Magnitsky Act – targeting sanctions against human rights violators around the world – has told Australia it risks becoming “a magnet for dirty money” from abusers and kleptocrats across the globe unless it brings in similar legislation. US financier Bill Browder, who championed… Read More