AUSTRALIA: STUDENT ‘MONEY MULES’ – POLICE SMASH MULTI-MILLION-DOLLAR MONEY LAUNDERING RING

On 15 October, the Brisbane Times reported that police have uncovered one of Australia’s biggest money laundering syndicates which allegedly bought the identity of hundreds of foreign students on the dark web to wash cash and move tens of millions of dollars offshore.  Police allege the ring laundered at least $62 million of criminal cash using the dormant bank accounts of 250 students who have returned to China after studying in Australia.

https://www.brisbanetimes.com.au/national/victoria/student-money-mules-police-smash-australia-s-biggest-money-laundering-ring-20211015-p5907i.html

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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