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According to BlockBeats, on June 9th, after 18 months of joint investigations by multiple agencies, Australian law enforcement agencies dismantled an organization suspected of conducting sophisticated money laundering in Queensland, and four individuals involved were charged. The organization is suspected of secretly transporting cash nationwide and laundering millions of Australian dollars in criminal proceeds. A 32 year old man from Heathwood, Brisbane, is accused of being the main customer of the money laundering network, laundering approximately AUD 9.5 million in 15 months. He was charged with money laundering and refusing to provide a phone password on Thursday, June 5th, and has been remanded. He is expected to appear in Brisbane District Court today (June 9th). As early as December 2023, QJOCTF began investigating suspicious financial transactions and ultimately linked the man to a large company that accepted multiple suspicious third-party transfers. Investigators traced the flow of funds and found that he was a client of a sophisticated money laundering network operated by a security company on the Gold Coast. The security company converted up to AUD 190 million in cash into cryptocurrency through its armored cash transport department. The investigation into the source of the 190 million Australian dollars in cash is still ongoing. This security company headquartered on the Gold Coast used a complex network of bank accounts, businesses, couriers, and cryptocurrency accounts to launder millions of Australian dollars in illegal funds within 18 months.