The Australian Securities and Investments Commission (ASIC) is a regulatory authority responsible for overseeing companies, financial markets, and financial services in Australia. One of the key tools at ASIC’s disposal is its compulsory information-gathering powers, which are essential for the effective regulation and enforcement of laws within the sectors it oversees. The importance of…
DetailsAn Interpol Red Notice expires after 5 years, and it is not automatically renewed. According to Article 13(2)(f) of Interpol’s Rules on the Processing of Data (RPD), the data retention period is determined by INTERPOL’s Executive Committee. A Red Notice is included in Interpol’s “Nominal Database,” which has a retention period of 5 years. However,…
DetailsAfter three years of intensive negotiations, United Nations Member States have reached a milestone agreement on a new convention aimed at combatting cybercrime. The draft text, finalised on 9 August 2024, is poised to be adopted by the UN General Assembly later this year, marking the creation of the first global legally binding instrument to…
DetailsManaging your financial affairs to minimise tax liabilities is a perfectly legal practice known as tax planning. When done within the framework of the law, it is a legitimate way to ensure that you’re not paying more tax than necessary. However, there is a fine line between legal tax planning and involvement in unlawful tax…
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The idea of an INTERPOL Silver Notice was first proposed at the 84th INTERPOL General Assembly in Kigali in 2015. This notice was intended to allow INTERPOL to facilitate the tracing and recovery of criminal assets. This article explores the key considerations. The need for a Silver Notice One of the most effective means…
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The Australian Securities and Investments Commission (ASIC) has reaffirmed the strong integrity of Australia’s equity markets in its latest market cleanliness report, ensuring that Australians can continue to invest with confidence. According to ASIC’s Equity Market Cleanliness Snapshot Report published in July 2024, the country’s equity markets maintain a high standard of integrity, consistently ranking…
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In an increasingly interconnected world, the issue of stolen public funds has become a significant global challenge. The diversion of public assets, often linked to corruption, not only deprives countries of crucial resources but also undermines trust in public institutions. Recognising the need for a robust international response, INTERPOL has launched an initiative to trace,…
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To address the threat of transnational serious and organised crime in Australia, The Australian Criminal Intelligence Commission (ACIC) uses specialised capabilities and powers to gather, assess, and share actionable intelligence with domestic and international law enforcement and intelligence partners. This involves participating in multi-agency task forces to investigate and collect intelligence on high-risk criminal entities.…
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The Australian Criminal Intelligence Commission (ACIC) maintains a strategic focus on eight priority crime themes to help make Australia hostile to criminal exploitation. This article explores the ACIC’s priority crime themes which include criminal networks, cybercrime, illicit drugs, national security, serious financial crime, illicit tobacco, firearms, and victim-based crime. Criminal networks Serious and organised…
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Tax crime is a global issue that requires a coordinated global response. The Joint Chiefs of Global Tax Enforcement (J5) is at the forefront of the battle against international tax crime and money laundering, including the emerging threats from cryptocurrency. Formed on July 1, 2018, the J5 was established in response to the Organisation for…
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