AUSTRAC information assisted an investigation into individual suspected of carrying more than AUD150,000 cash from China to Australia.
AUSTRAC case studies are a valuable resource for industry and AUSTRAC's partner agencies. They reveal the diversity and seriousness of the organised crime and terrorism financing threats facing industry and the wider community.
These real-life cases present a snapshot of how criminals are seeking to misuse Australia's financial system and how AUSTRAC intelligence and analysis is instrumental in combating these criminals.
The case studies also demonstrate the enormous intelligence value of the financial transaction and suspicious matter reports AUSTRAC receives from industry as they play an important role as partners in combating serious and organised crime and the financing of terrorism.
A company director allegedly used more than AUD1 million of company funds for his personal gambling and entered into an agreement rendering the company liable for his gambling debts.