The Morning Risk Report: Australia Sees Cybercrime, Money Laundering Link

The Morning Risk Report: Australia Sees Cybercrime, Money Laundering Link

August 10, 2016, The Wall Street Journal

Michael Chertoff is quoted in a Wall Street Journal article regarding the launch of Australia’s specialized cyber unit in response to increased money laundering efforts by hackers and other terrorists. According to Chertoff, the move by Australia reflects the reality that financial transactions are increasingly taking place outside the traditional financial system. “Simply relying on the old method of monitoring the banking system will miss an increasing amount of the criminal element,” he says.