Three reports released this month by Attorney-General Nicola Roxon have highlighted the risks to Australian businesses and non-profit organisations of money laundering and terrorism funding.
The reports were prepared by the Australian Institute of Criminology as part of a $3.2 million program of research into money laundering and financing of terrorism in Australia.
"Australia has some of the strongest measures in place to combat money laundering and terrorism financing,” said Roxon on 10 February. “But there is still more work to do and combating money laundering and starving terrorists of funds will continue to be a priority for our agencies.”
Minister for Home Affairs and Minister for Justice Jason Clare said the reports would help educate businesses and non-profit organisations about the risk of money laundering.
“These reports identify the ways that business and non-profit organisations can be targeted by organised crime to launder money,” said Clare. “By highlighting the risks, business and non-profit organisations are armed with the information they need to protect themselves against criminals.”
The reports, Money laundering and terrorism financing risks to Australian non-profit organisations, Trade-based money laundering: Risks and regulatory responses and Anti-money laundering and counter-terrorism financing across the globe: A comparative study of regulatory action, are available at www.aic.gov.au.