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Australian Authorities Dismantle $21M Crypto-Linked Money Laundering Scheme
Australian Authorities Dismantle $21M Crypto-Linked Money Laundering Scheme
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Australian Federal Police have cracked down on a sophisticated money laundering operation using cryptocurrency to conceal illicit funds across Southeast Queensland. After an 18-month investigation, four individuals face charges, with $21 million in assets seized—including properties, vehicles, and $170,000 in digital currencies.
The scheme funneled $190 million through a Gold Coast security firm, blending criminal proceeds with legitimate transactions. Funds were converted to cryptocurrency, then dispersed via shell businesses and a car dealership. Raids across Brisbane and the Gold Coast uncovered cash, crypto holdings, and a network tied to organized crime.
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