Australian police officer accused of gold laundering linked to gambling

The officer allegedly stole family-owned gold bars.

Australia.- A former New South Wales police officer has been accused of committing serious misconduct after allegedly selling AU$1.3m (US$851,000) worth of family-owned gold bars to fund a gambling addiction. The case was triggered by intelligence from the Australian Transaction Reports and Analysis Centre (AUSTRAC).

The Law Enforcement Conduct Commission (LECC) found the unnamed officer had engaged in “serious misconduct” after taking 12 gold bars, weighing 50 ounces each, that belonged to his uncle and were stored underneath his mother’s house. He sold them to two dealers using falsified know your customer forms and falsely claiming the gold was a gift or inheritance. He used the proceeds on sports betting apps.

AUSTRAC flagged the transactions since they were made to a dealer with reported money laundering links. The officer in question resigned from the NSW Police Force and has been referred to the Department of Public Prosecutions.

Brendan Thomas, AUSTRAC CEO, said: “Gambling harm doesn’t just drain bank accounts, it can drive desperate people into crime. When gambling turns to addiction, people often look for fast money and that can mean stealing, fraud or money laundering.”

He added: “Bullion is valuable and easy to move, which makes it attractive for misuse. Dealers must take their anti-money laundering responsibilities seriously.”

From July 1 next year, AUSTRAC’s regulation will expand to cover dealers in other precious metals and stones.

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The officer allegedly stole family-owned gold bars. Australia.- A former New South Wales police officer has been accused of committing serious misconduct after allegedly selling AU$1.3m (US$851,000) worth of family-owned…