The AFR reports today that AUSTRAC believes the CBA is not the only bank that has been targeted by crime groups. The agency’s statement of claim against CBA notes that other Australian banks have been used by money-laundering syndicates. They are believed to include Westpac and the ANZ, although AUSTRAC does not specifically identify any bank other than CBA. Indian and Chinese nationals are among those to have been convicted of money-laundering in Australia in recent years:
At least half of the six money-laundering syndicates identified in AUSTRAC’s statement of claim against the Commonwealth Bank of Australia used other banks including ANZ and Westpac to wash major portions of their funds…
