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The Guardian - AU
The Guardian - AU
National
Anne Davies

Horse racing industry not equipped to tackle money laundering, organised crime expert says

AUSTRAC Racing NSW
Graphic of an outline of a horse made of cash over the top of a photograph of a crowd at a horse race
Ex-AFP officer says the Australian horse racing industry and governments could do more to stop racing being used to launder money. Photograph: CSA Images/Getty Images/CSA Images RF

The Australian horse racing industry provides fertile ground for money laundering, with the limited regulatory remit of racing authorities potentially making it more difficult for the practice to be effectively policed, an expert on organised crime has warned.

Nick McTaggart was Australia’s most senior operational officer investigating money laundering until he retired in 2016. He now runs a consultancy advising corporations on identifying financial crime.

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