“Yes, we have been focusing on the banks because they are the biggest risk for money laundering, in the sense that … the majority of the funds, go through the big banks in the country.”
Toole on Friday defended the government’s handling of organised crime.
He said since October 2021, Strikeforce Hawk “had executed more than 400 search warrants, seized around 70 firearms and laid almost 850 charges against more than 260 members and associates of criminal networks”.
Toole said police had also seized almost 70 firearms, about $4 million in prohibited drugs, and $2.5 million in cash.
“Money laundering is part of the business model of organised crime, and the way these networks operate is changing, and I am determined to ensure police powers can adapt and respond to these challenges,” Toole said.
“The NSW Crime Commission continues its investigation into money laundering in pubs and clubs and the NSW government will consider its recommendations later this year.”
Elliott, who is now the transport minister, said on Friday that the government had to be “very, very serious if we’re going to attack organised crime in this state”.
“I can’t walk back from the fact that as police minister I’m on the record saying that we need to be very, very serious and tough on proceeds of crime, on unexplained wealth on money laundering,” Elliott said.
“It was a position that I actually prosecuted when I was working in the gaming industry. I can’t walk away from that situation.
“We’ve got to cut the snake off at the head and that’s with the unexplained wealth, that’s with the money laundering and that’s, of course, the unexplained proceeds of crime.”
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