Two Gold Coast men have been arrested, accused of being part of an organised criminal network laundering money across the south east.
Operation Yankee Thundercat was launched in January to investigate activity linked to an alleged money laundering syndicate.
Investigators allege the syndicate laundered approximately $259,000 through a range of methods designed to conceal the movement and origin of criminal proceeds, including cash dead drops, structured cash deposits through ATMs, mule bank accounts and cryptocurrency.
On Monday, officers from the Money Laundering Unit, with assistance from the Cyber Crime Unit, Coomera Criminal Investigation Branch and Dog Squad, raided homes in Upper Coomera and Nerang.
They allegedly seized $23,000 cash, mobile phones, computers and electronic devices, financial documentation, and clothing.
A 33-year-old man and a 38-year-old man were arrested. They have since been charged with one count each of conduct in relation to proceeds of general crime worth $100,000 or more.
They were bailed to appear at the Southport Magistrate Court on 3 August 2026.
Detective Superintendent Craig McGrath from the Financial and Cyber Crime Group said police will target money laundering networks and organised crime at every level.
“Money laundering enables organised crime groups to profit from illegal activity and presents a significant threat to the community,” Detective Superintendent McGrath said.
“Money laundering is not a victimless crime. Every dollar laundered helps fund activities such as drug trafficking, cybercrime, fraud, exploitation and other serious criminal offending.”
