Money laundering

The AFP is warning people they might be used by the person they think wants a relationship with them to launder stolen funds.

Eleven current and former Star Entertainment company officers face civil penalty proceedings brought by the financial regulator.

The November 30 deadline for people to register online as company directors has prompted an unprecedented publicity effort.

Temporary arrangements have been put in place by the state government to support the establishment of a standalone casino regulator in NSW.   This will include amending the appointment of the Independent Liquor & Gaming Authority (ILGA) chairperson from part-time to full-time, and designating certain staff to focus exclusively on casino regulation.  In August the […]

The Australian government has a good record in taking crimes seriously when they directly affect public health, but it seems reluctant to confront organised crimes conducted through casinos.

With all the technological tools we have, why does fraud continue to be so pervasive? And how can the damage be reduced?

Paul Whyte has pleaded guilty to 530 charges from jail after he allegedly stole $22 million in public funds. He expects to serve a long jail term.

If business and political leaders want crime prevention efforts to work, and if they’re tired of the tedious processes and staggering cost of conforming to rules with almost zero impact, unreflective followership isn’t the only option.

The charges surrounding Westpac’s alleged 23 million breaches of anti-money laundering laws have been called “about as serious as it gets”. Westpac shirking its reporting responsibilities is bad, obviously. But the context is also important. Consider the sheer number of reports banks are expected to file automatically with the number of reports involving suspicious transactions, and the number leading to actual arrests and convictions.

What exactly is Westpac accused of doing wrong, and what should it have done? Here’s a quick guide to how Australia’s anti-money-laundering laws work.

The global anti-money laundering system is a failed experiment. We need to have an honest conversation about what’s wrong with it, including the possibility that much of it is a waste of time, and some of it might be doing more harm than good.

The Australian Commission for Law Enforcement Integrity will investigate lurid allegations suggesting an unsavoury relationship between Australian Border Force, Crown Resorts, and international criminals.

The Department of Foreign Affairs and Trade doesn’t have a specific policy on cryptocurrencies like Bitcoin yet, but is watching the emerging potential for the technology to support international development. As a federal inquiry continues, politicians want to hear more of the public sector’s possible uses.