Australian authorities have charged a western Sydney man for allegedly sending about $650,000 to Iranian banks under sanctions, the Australian Federal Police said on Wednesday.
The 34-year-old, a director of an Auburn-based remittance company, is accused of processing 543 international transfers worth $649,308 to sanctioned Iranian banks over a year, the AFP said in a joint statement with the Australian Sanctions Office and AUSTRAC.
Search warrants were executed in July at a Wentworthville home and an Auburn business, where investigators seized electronic devices. Forensic examination allegedly revealed evidence of funds transfers to designated banks.
The man has been ordered to appear before Downing Centre Local Court on Wednesday charged with contravening Australian sanction laws, an offence carrying a maximum of 10 years in prison and fines of up to three times the transaction value.
AFP Detective Superintendent Peter Fogarty said the force “works closely with the Australian Government and partners to ensure Australians aren’t breaching sanctions and dealing with foreign entities which engage in concerning conduct.” He added, “If you are contravening Australian sanctions, be warned – the AFP is ready and willing to act to disrupt your criminal activities.”
AUSTRAC national manager Anthony Helmond said, “Every time a business is instructed to transfer funds internationally, they must report that to AUSTRAC. We monitor these reports for signs of this type of activity and other criminality.”
Authorities said the Auburn company’s registration had been suspended for one year. The Australian Sanctions Office said it continues to monitor remittance companies to ensure compliance with financial sanctions.
