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Money laundering.
It's a business that's rife worldwide, with billions of dollars illegally laundered each year.
In Australia it's estimated that money laundering costs the economy A$60 billion a year.
In 2026, money laundering is under the microscope because Australia's Anti-Money Laundering and Counter Terrorism Regime is being expanded.
New gatekeepers are being added to the mix to fight against this crime, including accountants, lawyers, real estate agents and dealers in precious metals and gems.
In this second series of Crime by Numbers, delve into the murky depths of the world's laundromat.
Episode one goes inside the laundry and explores why money laundering is so harmful, the far-reaching costs to individuals and economies and what we can do to clean it up.
Listen now.
Host: Jacqueline Blondell, editor, CPA Australia
Experts:
Geoff Peck, a former fraud squad detective with Victoria Police's major Fraud Group
Brendan Thomas, AUSTRAC CEO
Amanda Wood, managing director, Kroll's Investigations, Diligence and Compliance Practice
Dr Milind Tiwari, senior lecturer the Australian Graduate School of Policing and Security at Charles Stuart University in Canberra
Kris Wilson, team leader, Cybercrime Investigations at Australian Federal Police
For more, head to the Australian Institute of Criminology website.
In the next episode of Crime by Numbers, discover how money mules such as Boliang Liu operate and the scams that lie behind the money laundering process.
Also, hear how the metaverse is transforming money laundering and making the detection process a lot trickier.
Stay tuned for episode two coming soon: The players and the crimes.
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CPA Australia publishes four podcasts, providing commentary and thought leadership across business, finance and accounting:
With Interest https://www.cpaaustralia.com.au/tools-and-resources/podcasts/with-interest
INTHEBLACK https://www.cpaaustralia.com.au/tools-and-resources/podcasts/intheblack
INTHEBLACK Out Loud https://www.cpaaustralia.com.au/tools-and-resources/podcasts/intheblack-outloud
Excel Tips https://www.cpaaustralia.com.au/tools-and-resources/podcasts/excel-tips
Search for them in your podcast platform. Email the podcast team at
[email protected]