Money exchange with links to Dubai Government identified as hub for billion-dollar laundering empire

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February 6 2018

A multinational currency exchange bankrolled by the United Arab Emirates has emerged as a key conduit for a global money laundering operation which has siphoned hundreds of millions of dollars out of Australia.  Assistant Commissioner Stewart said the Khanani network was laundering between $14 billion and $16 billion a year for organised crime syndicates across the world.

Federal Police as a major hub for the movement of drug profits and terrorism finance.  AFP Assistant Commissioner David Stewart has told Four Corners the money laundering operation run by Altaf Khanani — who is now in jail in Florida — ran its international transfers through multiple currency exchanges.