A massive Australian money laundering network that allegedly funnelled AUD$190 million in criminal proceeds through cryptocurrency and luxury assets has been dismantled by the Australian Federal Police (AFP) in a sweeping, multi-agency crackdown.
Four individuals have been charged following an 18-month investigation into a Gold Coast-based security company that authorities say was at the heart of “a complex web of deception.” The company, which offered armoured transport services, is accused of laundering tens of millions of dollars through a network of bank accounts, business fronts, and crypto exchanges.
“This is tainted money that was used to buy luxury cars, bank accounts, properties, and crypto,” said AFP Detective Superintendent Adrian Telfer. “We’re talking about a truly national operation, laundering the profits of criminal ventures across this country.”
Cash, Cars, and Crypto: Following the Money Trail
The investigation culminated in 14 coordinated search warrants carried out in early June at properties and businesses across Brisbane and the Gold Coast. Participating agencies included the Queensland Police Service, Australian Border Force, Australian Criminal Intelligence Commission, AUSTRAC, and the Australian Taxation Office.
Police allege that the Gold Coast security firm functioned as a laundering hub, collecting criminal cash from drop sites around Australia. The funds were flown into Queensland, disguised among legitimate business takings, and distributed through multiple bank accounts before being converted to assets or returned to individuals.
Authorities seized luxury cars, real estate, bank accounts, and cryptocurrency wallets as part of the operation. The combined value of seized property and assets is estimated at $21 million, with around $170,000 in crypto recovered during the raids.
How the Scheme Worked
At the centre of the operation, police say, were a 48-year-old Gold Coast man and a 35-year-old woman, the director and general manager of the security firm. Both have been charged with money laundering and dealing with the proceeds of crime.
Two men from Brisbane also face serious charges. A 58-year-old West End man was allegedly a key client of the laundering ring and faces two counts of money laundering. A 32-year-old Heathwood man is accused of funnelling funds through business accounts connected to the West End man. He is also charged with failing to provide the password to his mobile phone, a potential obstruction to the digital investigation.
The alleged laundering pathway involved multiple layers: criminal cash was deposited with the firm’s couriers, spread across various accounts, mixed with legitimate income, and then redistributed through cryptocurrency exchanges, classic car dealerships, and sales promotion companies.
Det. Supt. Telfer emphasised the sophistication of the scheme: “They used every tool at their disposal to hide the money’s origin. This wasn’t just local—it was national in scope.”
Criminal Innovation Meets Law Enforcement Collaboration
The case reveals the evolving methods used by organised crime to exploit both digital assets and legitimate service industries. By blending criminal funds with lawful cash in a trusted security firm, the operation sought to avoid traditional red flags that might trigger financial scrutiny.
According to Detective Acting Superintendent David Briese from the Queensland Police Service’s Drug and Serious Crime Group, the scheme highlights “the extreme lengths criminals will go to conceal their illicit gains.”
Briese said the successful bust was only possible through close inter-agency collaboration and sustained surveillance efforts.
A Warning for the Crypto Sector
This case is a stark reminder that as crypto becomes more mainstream, it also becomes more attractive to those seeking to clean dirty money. While only $170,000 in crypto was seized in this operation, authorities made it clear that digital asset exchanges played a role in the broader laundering process.
The AFP has signalling it will continue to target similar laundering networks, especially those blending cash-based businesses with emerging technologies like cryptocurrency.
The investigation is ongoing, and more arrests or charges could follow. Meanwhile, the four accused individuals are expected to face court in the coming weeks as law enforcement continues to untangle one of Australia’s most elaborate money laundering schemes in recent memory.
