The Victorian County Court recently sentenced two men to jail for laundering more than $63 million using ATMs in Melbourne. 

It was AUSTRAC financial intelligence that helped Victoria Police identify the money laundering syndicate depositing the proceeds of their crimes at ATMs between July 2020 and October 2021. The major banks, via AUSTRAC’s Fintel Alliance and its Third Party Cash Deposit project, also provided significant intelligence throughout the investigation.

One of the convicted men laundered close to $33.7 million in cash, while the second dealt with just over $30 million. They were sentenced to five-and-a-half years and three-and-a-half year’s imprisonment respectively. 

“The sums of money you both dealt with are eye-watering,” said Judge Michael Cahill in his sentencing remarks.

The investigation involved collaboration between the Victoria Police’s Criminal Proceeds Squad, Purana Taskforce and the Financial Crime Squad, as well as AUSTRAC and the Australian Criminal Intelligence Commission.

The two men were arrested along with 3 other people in October 2021. Police also seized a significant quantity of cash, believed to be several million dollars, along with illicit tobacco, a cash counter, jewellery, high-end clothing and sporting memorabilia.

“Cases like this demonstrate the importance of collaboration between AUSTRAC, law enforcement and the private sector,” said John Moss, Deputy CEO Intelligence at AUSTRAC. 

“They also show those involved in money laundering that you will get caught and there are consequences for the crimes you commit.”

How can I help prevent crimes like this?

AUSTRAC and our partners are committed to protecting the Australian community and keeping the financial system free from criminal abuse.

Your financial transaction reports and suspicious matter reports (SMRs) help AUSTRAC to provide actionable intelligence to our law enforcement partners to disrupt serious crimes. If you identify any suspicious transactions, you must submit an SMR to AUSTRAC. 

With your help, we can protect the Australian community.