01 Nov 2016
Australia and China agreed on Tuesday to share intelligence about potential financial crime as part of a crackdown on cross-border money laundering and terrorism financing.
Australian Justice Minister Michael Keenan, who is in Beijing, said the agreement between Australian financial intelligence agency AUSTRAC and its Chinese counterpart CAMLMAC would allow both countries to target and disrupt organized criminal networks.
“Following the money trail is an essential element in tackling serious and organized crime,” Keenan said in an emailed statement.
China has been trying to get increased international cooperation to hunt down suspected corrupt officials who have fled overseas since President Xi Jinping began a campaign against deeply-rooted graft more than three years ago.
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