Search results
Results From The WOW.Com Content Network
Australian Transaction Reports and Analysis Centre (AUSTRAC) is an Australian government financial intelligence agency responsible for monitoring financial transactions to identify money laundering, organised crime, tax evasion, welfare fraud and terrorism financing. [3]
In financial regulation, a Suspicious Activity Report (SAR) or Suspicious Transaction Report (STR) is a report made by a financial institution about suspicious or potentially suspicious activity as required under laws designed to counter money laundering, financing of terrorism and other financial crimes.
A subsequent parliamentary inquiry recommended a royal commission, noting the lack of regulatory intervention by the relevant government authorities, [2] and later revelations that financial institutions were involved in money laundering for drug syndicates, turned a blind eye to terrorism financing, and ignored statutory reporting ...
In Australia, the major importer of illicit drugs in recent decades has been 'The Company', according to police. This is a conglomerate run by triad bosses which focuses particularly on methamphetamine and cocaine. It has laundered money through junkets for high-stakes gamblers who visit Crown Casinos in Australia and Macau. [32]
Police said Thursday the arrests came after a 14-month investigation that involved multiple Australian agencies and the U.S. Department of Homeland Security. Police said a money remittance chain ...
Generally the term applies in the context of law enforcement and related activities. One of the main purposes of financial intelligence is to identify financial transactions that may involve tax evasion, money laundering or some other criminal activity. FININT may also be involved in identifying financing of criminal and terrorist organisations.
Australian police have arrested seven members of an alleged Chinese crime syndicate for laundering hundreds of millions of dollars through one of the country's largest money remitters after a ...
Under Australia's Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) Rules, [11] PEPs are individuals who occupy a prominent public position or functions in a government body or international organisation, both within and outside Australia. This definition also extends to their immediate family members and close associates.