Seven arrested after police raid Changjiang Currency Exchange offices across the country for alleged connections with money laundering groups
The AFP’s money laundering probe of Changjiang Currency Exchange began after noticing the currency exchange chain opened new shops mid-Covid lockdown.The AFP’s money laundering probe of Changjiang Currency Exchange began after noticing the currency exchange chain opened new shops mid-Covid lockdown.An alleged crime syndicate has been busted, with police accusing it of using a money transfer chain with offices in major Australian cities as a front to launder almost $229m.
The probe was in part triggered by AFP investigators noticing that the exchange chain opened and updated new and existing shopfronts in the heart of Sydney during Covid-19 lockdowns. The AFP identified alleged links between the exchange chain, one of the largest independently owned remitters in the country, and known money laundering organisations. It is alleged the exchange chain has transferred more than $10b in the past three financial years.
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