Summary
AUSTRAC analysis was used in an investigation into a drug and money laundering syndicate suspected of importing narcotics into Australia. AUSTRAC intelligence helped law enforcement agencies detect a consignment of drugs that was smuggled inside a vehicle imported from the US, and arrest, charge and convict three members of the syndicate.
What to look out for
- Individuals sending or receiving funds above the A$10,000 reporting threshold to or from overseas remitters.
- Individuals transferring multiple funds valued below the A$10,000 threshold to overseas recipients, in a short space of time.
- Multiple international funds transfers of any value that are made within a short period of time.
The crime
As part of an investigation into an Australia-based Albanian drug and money laundering syndicate, law enforcement discovered 30kg of methamphetamine hidden in a car that arrived in a shipping container from the US.
Investigators tracked the delivery of the car to the home of a syndicate member, where they monitored the activities of three offenders over a number of days. Authorities arrested the offenders and seized cash, additional drugs, computer equipment and the car.
Penalties
The three offenders were convicted of crimes relating to importing and possessing a commercial quantity of a border-controlled drug and sentenced to between 11 and 16 years in prison.
How business reporting helped
Threshold transaction reports (TTRs) by banks and remitters alerted AUSTRAC to suspicious transactions made via international funds transfer instructions (IFTIs) by one of the offenders.
One report showed the offender sent A$40,800 to an account in the US to buy the car that was used to bring the drugs into Australia. Other reports showed the same offender and a member of his family received A$147,365 from overseas remitters during the two months prior to importing the drugs into Australia.
The same offender was reported for sending A$133,610 in 84 instalments to accounts in Albania, Norway, Serbia, Turkey and the US. Most were for amounts below the reportable A$10,000 threshold.
AUSTRAC’s role
AUSTRAC’s analysis of the transaction reports helped law enforcement identify and convict the Australia-based members of the syndicate, and expose their links to the overseas supply network.
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