Australian probe uncovers Asian triad syndicate: report | Inquirer News

Australian probe uncovers Asian triad syndicate: report

/ 06:36 PM March 26, 2012

SYDNEY – An Australian investigation into money-laundering and drug trafficking has uncovered a powerful triad syndicate with top Asian politicians and police involved, a report said Saturday.

The four-year intelligence inquiry by the Australian Crime Commission describes a multi-billion-dollar international drug and money-laundering network that poses “a significant threat to the Australian community”.

The Sydney Morning Herald said a briefing outlining the findings of Operation Dayu put senior Asian officials in the frame and exposed a triad-led global criminal entity known as the “grandfather syndicate”.

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It said intelligence was uncovered that the syndicate had infiltrated a high level of government “in both law enforcement agencies and political circles” in Asia, including China, Vietnam, Thailand, Myanmar, Laos, Cambodia and Macau.

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“There are a number of other countries where this is suspected but not apparent to date,” the briefing, which has been supplied to overseas agencies, reportedly said.

One example involved a “high-placed triad associate” of the grandfather syndicate “attending an Interpol conference in New York”.

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As part of its probe, the commission, an Australian government criminal intelligence and investigation agency, was authorised to send more than Aus$10 million (US$10.4 million) in suspected drug funds offshore in an attempt to identify crime bosses.

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Run in partnership with the Australian federal police and Australia’s anti-money-laundering agency Austrac, it seized drugs worth an estimated $780 million.

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The Australian Crime Commission could not be reached Saturday for comment but the Herald said the briefing showed the syndicate was responsible for at least Aus$1.2 billion worth of drug imports to Australia annually.

“The pooling of resources of the main triad groups has allowed them to merge their contacts, assets and holdings, creating a well-established network of contacts across many governments as well as legitimate business and company structures,” the briefing said.

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The syndicate reportedly has “three main heads based in Southeast Asia and at least 22 other primary seats (bosses)” around the globe.

It pours billions of dollars into “high-profile Internet gambling facilities, Asian hotel chains and resorts, commercial construction companies, property companies in Hong Kong and Vietnam (and) casinos”.

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To move money, the syndicate uses “highly-placed government officials, banking staff … (to) undercut any other overt or covert money transfer facility”, the Herald cited the briefing as saying.

TAGS: Drug trafficking, News, world

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