How money launderers used Commonwealth Bank of Australia

Finance


Lu, a Chinese national on a business visa, described himself as a “net engineer”, according to the police document filed in court. He had no involvement in the meat export industry and earned 60,000 yuan ($9,000) a year in his home country, he told police.

Lu said he met another Chinese man while grocery shopping in the Sydney suburb of Chatswood, where CC&B was based.

“After some chatting, he say, ‘can you help me do this please?’,” Lu told police, according to the document.

Lu agreed to help “because the man asked him”, the police statement said, without elaborating. He told police he didn’t understand the receipts because they were written in English.

Australia’s Joint Organised Crime Group charged two CC&B employees with dealing in criminal proceeds about the same time as Lu, in August 2015.

The Australian Federal Police could not immediately provide an update on the two CC&B employees identified as being charged.

The police statement said a third CC&B person, company director Ka Chun Leung, was a “potential co-accused” but has left the country. Efforts by Reuters to contact Ka were unsuccessful.



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