The Australian Federal Police (AFP) has uncovered a money laundering syndicate, named the Long River syndicate. Over the last three years, approximately $229 million in illicit funds have been laundered through twelve establishments across Australia. As part of Operation Avarus-Nightwolf, a series of targeted raids were executed, confiscating high-end properties and vehicles with an estimated value of $50 million. The investigation led to the arrest of four Chinese nationals and three Australians in Melbourne’s eastern suburbs.
Source: Wayne Jones, 2023-10-29; https://cryptopotato.com/not-just-crypto-afp-raids-bust-currency-exchange-laundering-nearly-230m-in-illegal-funds/