The Australian Federal Police have announced the formation of Taskforce Avarus to target Australian and offshore organised criminals, who are laundering money through the nation’s financial system and property market.

Recent investigations have exposed the extent of large-scale and systemic money laundering throughout Australia, with a high proportion driven by illicit drug trafficking.

Taskforce Avarus comprises the AFP, AUSTRAC, Australian Criminal Intelligence Commission and Australian Border Force to unravel the complex structures and methods used by criminals to launder money.

With Commonwealth partners in the Taskforce, the AFP will also seek the participation of a number of public-private relationships, including financial institutions that currently assist law enforcement to combat money laundering.

Overseas law enforcement agencies will also work closely with the Taskforce.

The AFP’s case studies include cryptocurrency methods and the use of daigous.

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Author: David Jacobson
Principal, Bright Corporate Law
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About David Jacobson
The information contained in this article is not legal advice. It is not to be relied upon as a full statement of the law. You should seek professional advice for your specific needs and circumstances before acting or relying on any of the content.