Australia Tightens Noose on Financial Crimes: AFP Leads the Fight Against Money Laundering and Organised Crime

The Australian Federal Police (AFP) has launched a series of initiatives to combat the scourge of financial crimes in Australia, including money laundering and organised crime operations. As the lead agency in this fight, the AFP is empowered by the Criminal Code Act 1995 (Cth) to investigate and prosecute money laundering offences.

Operation Avarus: Disrupting Serious Money Laundering Cases

The AFP’s national anti-money laundering strategy, Operation Avarus, has been instrumental in identifying and disrupting the most serious money laundering cases. Taskforce Avarus, which includes partners such as the Australian Criminal Intelligence Commission, Australian Border Force, and AUSTRAC (Australian Transaction Reports and Analysis Centre), has made significant progress in combating money laundering and terrorist financing.

Australia’s Role in Global Efforts

Australia is a founding member of the Asia/Pacific Group on Money Laundering (APG) and plays an active role in shaping global policy on money laundering and terrorism funding. The country’s membership of the Financial Action Task Force (FATF) ensures that it operates to globally recognised standards, preventing and interrupting money laundering operations.

Disrupting Serious and Organised Crime

The AFP has also been undertaking regular actions to disrupt and investigate serious and organised crime, including drug trafficking and other illicit activities. Through its ongoing efforts to take the profit out of these crimes, the agency aims to create a hostile environment for criminals in Australia.

Criminal Assets Confiscation Taskforce (CACT)

The CACT, led by the AFP, has been instrumental in identifying and removing profits from serious and organised crime. Working alongside AUSTRAC, Australian Border Force, Australian Criminal Intelligence Commission, and Australian Tax Office, the CACT uses intelligence, operations, legal, and other specialist resources to identify and confiscate money and assets gained through illegal activities.

The AFP is responsible for prosecuting currency-related matters in Australia, working closely with the Reserve Bank of Australia to examine suspected counterfeit paper money. State and territory police can also seize and prosecute suspected counterfeit currency.

Commitment to Disrupting Financial Crimes

As the lead agency in combating financial crimes, the AFP is committed to disrupting and investigating money laundering and organised crime operations, ultimately reducing their impact on Australian society.

Key Points

The AFP has launched a series of initiatives to combat financial crimes, including money laundering and organised crime operations.
Operation Avarus has made significant progress in combating money laundering and terrorist financing.
Australia is a founding member of the Asia/Pacific Group on Money Laundering (APG) and plays an active role in shaping global policy on money laundering and terrorism funding.
The AFP is responsible for prosecuting currency-related matters in Australia, working closely with the Reserve Bank of Australia to examine suspected counterfeit paper money.