AUSSIE BANKS: CIA MONEY LAUNDERERS

On 5 April 2018, Nicole Rose, head of AUSTRAC (Australian Transaction Reports and Analysis Centre) addressed the Aus media:

I thought coming from the Australian Criminal Intelligence Commission that I had a pretty good handle on serious and organised crime side. I didn’t appreciate the depth and breadth of involvement with private entities and banks. I didn’t appreciate how many industries it does actually touch. There’s a misperception that money laundering is a victimless white-collar crime that’s probably just looking at tax avoidance – and it’s not. It is criminal entities using financial institutions here and nationally to move criminal funds around our country and our financial system overseas. And it has a massive impact on everyday life. Whether that’s child exploitation, serious and organised crime, drug importation – it all involves money laundering.

Commonwealth Bank (CBA) was fined $700M for laundering proceeds from child sex trafficking