Australia's money laundering and terrorism financing national risk assessment is released

It comes as little surprise to those who work to combat financial crime that money-laundering and terrorism financing risk means Australia remains an attractive destination to criminals.

The Attorney-General Mark Dreyfus and AUSTRAC CEO Brendan Thomas released the National Risk Assessments on money laundering and terrorism financing at the National Press Club on July 9^th and signalled the Federal Government's position on much needed reforms.

The threat environment and our high vulnerabilities to money laundering and terrorism financing risk has ongoing high /very high vulnerabilities to money laundering and terrorism financing which detract from the effectiveness of our existing efforts. Terrorism financing remains a continuing and pervasive threat. In the case of money laundering, legal channels, cash, luxury goods, real estate, domestic banks, casinos and remitters continue to be exploited as the preferred methods of moving illicit funds leaving