Improving money laundering and fraud detection: Lessons learned from South Australian Police’s Operation ‘Profiteer’

Darren Crowhurst, Detective Brevet Sergeant, Major Fraud Investigation Section (156) was the lead Detective on ‘Operation Profiteer’, an investigation conducted in 2016 by the SA Police – Major Fraud Investigation Section into money laundering.  The investigation identified 43 scam/fraud victims worldwide, and resulted in the arrest of an offender for over 600 counts of money laundering totaling nearly 700,000 dollars.

Based on his experience during the investigation, in this article Darren shares the key detection methods and red flags that led to the identification and arrest of a South Australian criminal, and the lessons organisations in the financial services sector can learn from the investigation to strengthen their own AML programs.