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

A customer exchanges money at a currency exchange centre in Dubai.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.

Key points:
Money laundering operation run by Altaf Khanani ran its international transfers through multiple currency exchanges
A large volume of money was run through the UAE Government-owned Wall Street Exchange
Wall Street Exchange was exposed during congressional investigations into September 2001 attacks
Wall Street Exchange, one of the largest money remitters in the Middle East and which has its main office in Dubai, has been identified by the Australian 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 β€” who is now in jail in Florida β€” ran its international transfers through multiple currency exchanges.

via Money exchange with links to Dubai Government identified as hub for billion-dollar laundering empire – ABC News (Australian Broadcasting Corporation)