Australia seized a $123 million money laundering case involving encryption, and four people were prosecuted.

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PANews reported on June 9 that the Australian Federal Police carried out 14 raids in Brisbane and the Gold Coast on June 5 and 6, dismantling a money laundering network suspected of converting $190 million in cash into crypto assets through an armored cash transport company. The companies involved are suspected of concealing the source of funds through cryptocurrency, antique car trading and shell companies. Four people have been charged in connection with the case, including a Brisbane man suspected of laundering $9.5 million. A total of $170,000 in crypto assets, 17 properties, crypto wallets for crypto devices, and business records and documents related to alleged money laundering schemes were seized and the investigation is ongoing.

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