Australian police have charged four individuals in connection with a money laundering operation in Queensland, accused of facilitating the transfer of $123 million in illicit cash into cryptocurrency. The arrests followed extensive investigations by the Australian Federal Police and other agencies, which executed 14 raids in Brisbane and the Gold Coast, seizing $170,000 in cryptocurrency, physical cash, luxury properties, and secured devices. The operation allegedly involved a Gold Coast security company that laundered funds through fake businesses and classic car sales to disguise their origins. A 32-year-old man was detained for laundering $6.16 million, while the director and general manager of the accused security firm were granted bail. Authorities emphasized the increasing role of cryptocurrencies in criminal activities, noting that over $110 million in assets linked to such activities had been restrained in the past year alone. This operation reflects a significant law enforcement effort to combat organized crime utilizing digital currencies.

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