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$124M Crypto Laundering Scheme Exposed in Australia—Authorities Charge Four
$124M Crypto Laundering Scheme Exposed in Australia—Authorities Charge Four
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Australian authorities have dismantled a sophisticated money laundering operation in Queensland, charging four individuals and freezing $13.7 million in assets. The scheme allegedly converted $124 million in cash into cryptocurrency through a front company, leveraging digital assets to obscure the trail of illicit funds.
Law enforcement agencies highlight the growing use of crypto in financial crimes, though blockchain analytics increasingly expose such activities. The case underscores regulators'' focus on compliance as digital assets gain mainstream traction.
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