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A cross-state Money Laundering network in Australia has been dismantled, involving 190 million AUD flowing into the crypto market.
Gate News bot message, the Australian police, in conjunction with multiple departments, successfully dismantled an interstate money laundering network. The case involved an amount of 190 million Australian dollars, with funds mainly flowing into the Crypto Assets market.
Law enforcement has successfully seized approximately 21 million AUD in assets, including real estate, bank accounts, vehicles, and Crypto Assets worth 170,000 AUD.
The investigation shows that the criminal organization mixes legitimate and illegitimate cash through security companies and uses antique car dealerships, promotional companies, and crypto trading channels for Money Laundering activities. The case is currently under further investigation.
Source: Wu Says