A group of investigative journalists reveal the identities of thousands of suspected tax evaders, U.S. prosecutors increasingly turn to a civil fraud statute to prosecute money launderers, and more, in this week's news roundup.
Most laws meant to combat money laundering have proven counterproductive and have failed to address the fact that dirty money is often cleaned in otherwise legitimate businesses, says Andrew Haynes.
Divergences in international lists of predicate offenses to money laundering have hampered the fight against financial criminals, according to a report by the Australian government.
Australian financial institutions that haven't complied with a 2007 anti-money laundering act should expect to be penalized going forward, according to the executive general manager of the Australian Transaction Reports and Analysis Centre.
As many as 50 clients and employees of an Australian accounting firm may be charged in one of the countrys largest money laundering schemes, according to news reports.
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