AUSTRAC muzzled by Canberra as Australia defies global money-laundering authorities

AUSTRAC has held Australia’s largest companies to account while other regulators with vastly more resources cowered and eyed the “revolving door” of private sector jobs. In the past three years, AUSTRAC has delivered taxpayers more than $2 billion in penalties for anti-money laundering breaches. One would expect AUSTRAC to be riding a wave of political support. Not so, writes Nathan Lynch.