‘Staggering’: Investigative journalist sheds light on busted Chinese money laundering syndicate

The Australian Federal Police (AFP) has smashed a Chinese money laundering syndicate which allegedly turned over $10 billion in three years.

Investigative journalist with The Age, Nick McKenzie, has shed light on the story which Ross Stevenson deemed an “amazing story”.

Mr McKenzie claims the syndicate turned over “staggering, eye-watering amounts of dirty money” and believes there is a much bigger story underneath the surface.

Press PLAY to hear him explain + the potential impact the syndicate has had on property prices in Australia

The Changjiang Currency Exchange publicly operated 12 outlets across the country.

Federal officers claim it’s a front for the movement of criminals’ cash and cryptocurrency offshore.

The network, known in underworld circles as the Long River, allegedly carried out its scheme with the help of insiders at major banks.

The AFP has arrested seven alleged ringleaders.

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