The Australian Federal Police (AFP) is launching a multi-agency taskforce to target criminals who are laundering tens of millions of dollars in Australia every day to bankroll lavish lifestyles and further crime.

Taskforce Avarus will target criminal syndicates involved in, amongst other things, trade-based money laundering (TBML) schemes using anything from low-value goods such as baby formula and vitamins to high-end goods such as jewellery and bullion to launder money.

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