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Australia Charges Four Over $123M Crypto Money Laundering Ring
Australia Charges Four Over $123M Crypto Money Laundering Ring
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Australian authorities have cracked down on a sophisticated money laundering operation allegedly funneling $123 million through cryptocurrency. The Australian Federal Police (AFP) and allied agencies conducted 14 raids across Brisbane and the Gold Coast, uncovering $170,000 in crypto assets alongside physical cash, luxury properties, and encrypted devices.
The scheme reportedly used a Gold Coast security firm as a front, channeling drug proceeds through shell companies, classic car sales, and crypto exchanges. Over the past year, the AFP's asset seizure taskforce has restrained more than $110 million in illicit funds, with cryptocurrency playing a prominent role in multiple cases.
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