PHOTO: SCOTT BARBOUR/GETTY IMAGES Money laundering turns the illegal proceeds of drug trafficking, child exploitation, bribes and other criminal activity “legitimate” so criminals can continue their sordid businesses.
OPINION: “Judge not, that ye not be judged”, Matthew 7:1. Or in layman’s terms, those in glass houses shouldn’t throw stones.
Teachings the Australian prime minister would have been well-advised to have considered as he made numerous salvos at Westpac’s inexcusable failures to report over 23 million transactions to finance intelligence agency AUSTRAC.
While we know Westpac’s failures facilitated the abuse of children, we have little idea what the government’s failure to strengthen Australia’s weak anti-money laundering laws has facilitated.
Money laundering turns the illegal proceeds of drug trafficking, child exploitation, bribes and other criminal activity “legitimate” so criminals can continue their sordid businesses.
READ MORE VIA STUFF