This week on Four Corners, criminals have targeted Australia’s largest government-owned gold refiner, trying to exploit weaknesses in its reporting systems to launder money.
Reporter Angus Grigg and the team have spent months forensically investigating the inner workings of the Perth Mint, uncovering claims of major holes in the historic institution’s money laundering defences.
The Perth Mint, owned by the WA government, is one of the world’s largest refiners and retailers of gold bullion. It’s a high risk for money laundering and it’s required to conduct rigorous checks on customers.
Four Corners investigates whether the mint has been scrutinising its customers properly, including notorious underworld figures.
Anonymous accounts in tax havens may also have allowed high-risk individuals to hide the proceeds of crime, by holding gold in the Perth Mint’s vault.
The Perth Mint could be responsible for billions of dollars’ worth of fines if any of Australia’s money laundering reporting laws are breached.
The fines would ultimately be paid by the taxpayer.
Four Corners – Tainted Gold reported by Angus Grigg goes to air on Monday 6th March at 8.30pm on ABC TV and ABC iview.
Media Release – ABC