In a recent Australian Financial Review article, Nicole Rose, CEO of the Australian Transaction Reports and Analysis Centre (AUSTRAC), stressed the importance of fortifying banks against money laundering.
In the opinion piece, Rose pointed out the growing interest and understanding of money laundering's devastating impact on communities and individuals. "There is now a lot more interest and a greater understanding of the devastating impact this crime has on individuals and communities," she wrote. "It sustains illegal activity such as illicit drug supply, human trafficking, fraud and corruption, and allows organised criminals to enjoy the proceeds of their crimes."
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