Accountant's guide to anti-money laundering reforms

After years of surveillance and information gathering, the Australian Federal Police (AFP) finally pushed the fire button on Operation Avarus-Nightwolf in late October 2023.

Launching simultaneous raids on 20 properties across the country, some 240 AFP officers, joined by around 90 forensic specialists and other specialists including dog handlers, moved to smash Australia’s biggest money laundering syndicate, known as Long River.

The raids led to the seizure of an estimated A$160 million in assets – including luxury properties, cars, boats, cash and cryptocurrency – and to the arrests of seven people. With the help of accomplices working in banks, they allegedly laundered hundreds of millions of dollars that had been earned from a range of illegal activities.

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