In an unusual case of what you see is not always what you get, the Australian Federal Police (AFP) want to seize more than $4.3 million from a Buddhist nun’s bank accounts because they suspect she is a member of an international money laundering syndicate.
Police are alleging the nun attempted to disguise the various cash deposits into Australian bank accounts by making them at a variety of branches throughout Victoria and New South Wales. During the placement stage of the alleged money laundering, 78 cash deposits were structured to be under the $10,000 reporting threshold. Also it is alleged that telegraphic transfers and a money changer in Hong Kong were also used to make the deposits from off-shore.
The 78 deposits amounted to over $600,000 while the entire amount in the nuns bank accounts was approximately $4 million.
This article raises some pretty clear red flag indicators for reporting entities and intelligence agencies to track to conduct their inquiries as to whether or not the behaviour is suspicious.
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