Australia: Couple Charged with Money Laundering, NSW Police Call Crypto a Challenge

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SEPTEMBER 27, 2018

The New South Wales Police Force have placed two Sydney residents in custody after they allegedly attempted to launder $300,000 in cash that was suspected to be involved in a string of crimes, by converting them into crypto.

Detectives say the cybercrime duo had started up 45 different companies and opened a number of bank accounts to receive fiat deposits. The deposits were related to “purchases being made online using stolen and fraudulently obtained credit card information,” NSW Police explained, reports itnews.