On October 26, 2023, in Australia, authorities charged seven people in connection with laundering vast sums of money for a Chinese crime syndicate known as the Long River money laundering syndicate. This marked the conclusion of a 14-month in-depth investigation, involving several Australian agencies and the U.S. Department of Homeland Security.
The central player in this operation was the Changjiang Currency Exchange, a money remittance chain with outlets spread across every mainland Australian state. This chain was reportedly and covertly managed by the Long River syndicate. While a significant portion of its business involved legitimate transactions, the Changjiang Currency Exchange allegedly facilitated the illegal transfer of roughly 229 million Australian dollars (equivalent to $144 million) over a span of three years.
The Australian Federal Police’s suspicions began during the COVID-19 lockdowns in Sydney. At a time when most businesses in the city were shuttered, the Changjiang Currency Exchange was not only functional but also expanding. This anomalous behavior, especially in the heart of Sydney where businesses were heavily impacted by the pandemic, triggered further scrutiny.
Stephen Dametto, an assistant commissioner with the Australian Federal Police, mentioned that the exchange’s decision to open and revamp shopfronts during such challenging times seemed out of place. With many international students and tourists having returned to their home countries due to the pandemic, the business case for such an expansion appeared weak, further arousing suspicions.
The investigation reached its climax when more than 300 officers conducted 20 raids across Australia. These operations led to the seizure of luxury homes and high-end vehicles collectively worth tens of millions of dollars.
The seven people charged consisted of four Chinese nationals and three Australian citizens. Their first appearance was in a Melbourne court. Assistant Commissioner, Dametto shed light on their extravagant lifestyles. They dined at some of the country’s most upscale restaurants, indulged in wine and sake valued in the tens of thousands, flew on private jets, and drove vehicles with price tags of A$400,000 (about $252,000). Additionally, one of the properties linked to them was valued at over A$10 million (roughly $6.3 million).Police sources indicated that the syndicate tutored its criminal clients on fabricating business paperwork, like counterfeit invoices and bank statements. The origin of some of this laundered money was cyber scams, trafficking of prohibited items, and violent criminal activities. In a remarkable revelation, Dametto mentioned that the syndicate procured fake passports for A$200,000 ($126,000) each, likely as a contingency plan for its members to escape the country if necessary.