NSW government approves new money laundering laws to target organized crime

“These reforms will better arm law enforcement agencies with the powers they need to confiscate unexplained wealth and create new offenses and tougher penalties for those seeking to launder money derived from criminal activity.

“Organized crime and the technologies that criminals use are always changing and evolving, and these reforms will put our state in the strongest position to deal with these insidious crimes.”

Deputy Premier and Police Minister Paul Toole “organized crime in this state is on notice”.

“If you think you can hide the ill-gotten gains of crime, you are wrong. If you think you can avoid detection by using encrypted devices, you are wrong,” Toole said.

“We know these encrypted devices are being used to plan serious crimes like drugs and firearms smuggling, money laundering and even murder.

“These reforms will make it an offense to possess these kinds of devices and allow us to better target high-risk individuals from using them to orchestrate crime.”

Legislation will be introduced when parliament returns for the spring session.

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