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A former senior bikie walked into the Perth Mint to buy gold. Officials didn't ask any questions!
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<blockquote data-quote="user 4386" data-source="post: 664687" data-attributes="member: 4386"><p>I don't think the bikie is much of a story - they did record his driver's licence, as is required for any single transaction over $10,000 in cash or other, so that left a trail. "Scrutinising" everyone is a big ask.</p><p></p><p>"The most serious failing by the Perth Mint when it comes to its anti-money laundering obligations is not declaring international movements of money. Any institution which receives funds from offshore must register these transfers with AUSTRAC. Four Corners has been told the mint failed to register more than 5,000 of these transactions in just nine months. Each failure can be punished with a fine of up to $21 million. These are not just civil penalties, this failure can also bring criminal charges". </p><p></p><p>If you consider they sold $20 billion last year, that is a story.</p></blockquote><p></p>
[QUOTE="user 4386, post: 664687, member: 4386"] I don't think the bikie is much of a story - they did record his driver's licence, as is required for any single transaction over $10,000 in cash or other, so that left a trail. "Scrutinising" everyone is a big ask. "The most serious failing by the Perth Mint when it comes to its anti-money laundering obligations is not declaring international movements of money. Any institution which receives funds from offshore must register these transfers with AUSTRAC. Four Corners has been told the mint failed to register more than 5,000 of these transactions in just nine months. Each failure can be punished with a fine of up to $21 million. These are not just civil penalties, this failure can also bring criminal charges". If you consider they sold $20 billion last year, that is a story. [/QUOTE]
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A former senior bikie walked into the Perth Mint to buy gold. Officials didn't ask any questions!
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