Australian police arrest money-laundering ring funding Hezbollah

Australian police revealed on Thursday that they arrested a money-laundering ring operating in more than 20 countries with funds related to groups reported to include Hezbollah.

The Australian Crime Commission says its special covert task force dubbed "Eligo" tracked money laundering being used by a complex global network of criminals in more than 20 countries over the past 12 months.

"This money, we need to be very clear, was destined to facilitate further criminal activity such as drug importations and drug trafficking which affects our nation both in harm and of course, our economy," the Australian Crime Commission's Paul Jevtovic told reporters in Sydney.

Authorities say the operation disrupted 18 criminal syndicates and resulted in the arrest of 105 people.

Jevtovic said that criminal groups are using new methods such as money transfer services to launder their money and send it internationally.

Authorities alleged that the groups are made up of motorcycle gangs, drug cartels, people smugglers and other criminals.

"The reality is - and it's well-recorded - that terrorist groups have relied on these exchange houses located all over the world and are involved with them. What our operation has indicated to date is that the monies that we have been following do go to these very same exchange houses," Jevtovic said.

At least one of the exchange houses used in the Middle East and Asia delivered a cut from every dollar it laundered to Hezbollah, which is banned as a terrorist organization in Australia.

One of those arrested is a 58-year-old US citizen who appeared in a Sydney court on Wednesday in connection to a record haul of 5.7 million Australian dollars (5.04 million US Dollars) in the past week, according to local media.


LBCI/AP