A$9 million funds investigated

Australian Federal Police investigate the Bisotel Rieh money-remittance provider after financial intelligence and compliance agency AUSTRAC suspends the company for failing to declare A$9 million (US$8.08 million) that it sent overseas between January and August. A company director, Damour Sharrouf, is understood to be Khaled Sharrouf’s sister while the other company director is Ahmed Alwash, believed to be Damour Sharrouf’s husband. The investigation concerns transfers of funds to individuals in Malaysia. Staff are said to admit that it ‘actively smuggles’ money from Turkey into Lebanon. AUSTRAC chief executive John Schmidt:

The figures don’t appear to match. It’s a fairly big difference in a short space of time. We are satisfied that the continued registration … may involve a significant financing-of-terrorism risk.