The Australian Federal Police (AFP) Criminal Assets Confiscation Taskforce (CACT) has restrained a further $5.2 million in real estate in Victoria as part of an ongoing proceeds of crime investigation into offshore funds allegedly being laundered in Australia by Chinese nationals.
On 22 November 2018 the AFP restrained residential premises in the Melbourne suburbs of Glen Waverley and Southbank and a commercial property, valued at approximately $3 million, in Oakleigh South, Australian Federal Police say.
The operation follows separate restraint action and search warrants executed in Melbourne and Sydney on 14 and 15 November 2018, during which $8.5 million in assets were restrained.
This operation increases the cumulative value to $15.2 million in assets restrained since October this year following requests for assistance from the Chinese Ministry of Public Security (MPS).
The $5.2 million in restrained assets are now subject to a Commonwealth restraining order made under the Proceeds of Crime Act 2002. These alleged proceeds of crime are related to the following offences:
- Dealing with property reasonably suspected of being proceeds of crime contrary to section 400.9 of the Criminal Code 1995 (Cth);
- Providing false or misleading information to a reporting entity contrary to section 136(1) of the Anti-Money Laundering and Counter Terrorism Financing Act 2006 (Cth); and
- Producing false or misleading documents to a reporting entity contrary to section 137(1) of the Anti-Money Laundering and Counter Terrorism Financing Act 2006 (Cth).
This operation further highlights the AFP’s relationship with the MPS and ongoing close collaboration under the Joint Agency Arrangement on economic crime cooperation.
