Global effort sees sanctions imposed on organisation | WPN World People News

The Australian Federal Police (AFP) and the Australian Crime Commission (ACC) welcome the decision of the U.S. Treasury Department to designate the Altaf Khanani Money Laundering Organisation as a Transnational Criminal Organisation. The Department also designated the Dubai-based money services business Al Zarooni which is linked to the Khanani Money Laundering Organisation.

Furthermore, any transaction through the Unites States, such as a funds transfer, that involves blocked property is prohibited, even if initiated by a non-U.S. person.

The designation of the above entities is a reflection of the ongoing collaborative effort between U.S. and Australian authorities, and has delivered a blow to transnational organised crime in disrupting the global criminal economy.

As a result of this action, any property in the U.S. or in the possession or control of U.S. persons, in which the Khanani Money Laundering Organisation or Al Zarooni Exchange has an interest, is blocked. U.S. persons are also prohibited from engaging in transactions with these entities.

The Khanani Money Laundering Organisation is allegedly responsible for the laundering of hundreds-of-millions of dollars in illicit funds on behalf of organised crime networks globally each year. It is alleged this organisation facilitates illicit money movements through numerous countries including Australia.

The AFP and ACC have worked in collaboration with the U.S. Treasury Department, U.S. Drug Enforcement Administration and U.S. Customs and Border Protection, National Targeting Center. The involvement of the AFP and the ACC is directly related to the organised crime aspects of this international money laundering network.

The AFP and ACC have a priority focus on targeting the money laundering activities of organised crime, through the AFP dedicated money laundering teams and ACC led Eligo National Taskforce.

The investigation in relation to this international money laundering network remains ongoing.

source: Australian Federal Police