Cash seized by police during a raid in 2024. Photo: AFP
Seven waterfront properties and almost $2m in cash are among a criminal haul seized by federal police in the last year.
The Australian Federal Police says a Criminal Assets Confiscation Taskforce (CACT) seized over $110 million in cash and other assets over the last year.
In one operation the AFP took control of seven Queensland waterfront properties worth $12.96m, a high-rise unit, cash, cryptocurrency and bank accounts following a money laundering investigation on the Gold Coast.
Also seized were $514,000 in cryptocurrency, $1.95m in cash and about $118,000 held in bank accounts. Two Russians have been charged with money laundering.
CACT members in Victoria and Tasmania seized a $3.9m incomplete house and $170,000 in cash as part of money laundering investigations.
The AFP also seized $780,000 in cryptocurrency after investigating attempts to illegally import and sell firearms into the country; several Glock semi-automatic pistols were paid for with cryptocurrency.
The CACT restrained $1.2 billion in criminal assets in the last five years and almost $2 billion since 2012, the AFP says.
Acting AFP Commander Scott Raven said the targeting of a criminal’s wealth was a critical strategy.
“While asset restraints often focus on proceeds from money laundering and drug trafficking, they also extend to crimes like child exploitation, human trafficking, cybercrime, technology-enabled scams, fraud and national security,” Acting Commander Raven said.
“While we have already surpassed AFP Commissioner Reece Kershaw’s initial target of restraining $600 million in criminal assets, the CACT’s ambitions remain far-reaching,” he says.
“With our expert, nationwide teams … we will relentlessly pursue and seize the assets of those who try to operate outside the law.”
Australian Taxation Office deputy commissioner John Ford says his office will continue to support interagency taskforces.
“This is a clear example of how information sharing and co-operation between agencies can achieve significant results,” Ford says.
AUSTRAC’s National Manager for Law Enforcement and Industry, Jon Brewer, says their specialist analysts have the skills to follow the money and help stop syndicates.
“We are proud that our financial intelligence directly led to some of these confiscations and prosecutions,” he says.
Australian Border Force Commander for Customs Enforcement, John Taylor, says a strong message is being sent.
“There is no chance of operating with impunity. You can expect to have your illegal activity detected and to face the full legal consequences, including the seizing of criminal assets,” he says.
After successful prosecutions, the confiscated assets are liquidated and the proceeds placed into a Commonwealth account which are redistributed by the Attorney-General into crime prevention and law enforcement measures.
