Perceptions of money laundering and financing of terrorism in a sample of the Australian legal profession in 2008-09 Vol. 122 Part 1.
Kim-Kwang Raymond Choo, Russell G Smith, Julie Walters and Samantha Bricknell
Australian Institute of Criminology
Money laundering is the process by which criminals, particularly those involved in serious and organised crime, seek to convert illegally derived funds into assets that appear to be legitimate. Minimising opportunities for money laundering represents an important means of reducing the incidence of large-scale organised, financial crime in Australia.
The present study by the Australian Institute of Criminology sought to investigate the extent to which a sample of legal practitioners in Australia perceived that risks of involvement in money laundering were present in the profession in Australia in the year 2008-09. The findings of the survey are presented in this report. They describe how a sample of the legal profession in Australia responded to the perceived risks of money laundering and financing of terrorism and how they perceived the prospects of further regulation in this area.