Date posted: 17/11/2021

Watch out for organised crime

CAs can find themselves unwittingly involved with organised crime, but there are ways to spot the warning signs.

In brief

  • It’s important to recognise the warning signs you may be dealing with organised crime
  • Be aware of how you may be vulnerable
  • Find out where you can get help

Organised crime costs the Australian economy up to A$47 billion a year and Chartered Accountants, through their pivotal role in the tax and superannuation systems, may encounter clients who are involved in crime syndicates.  

Some Chartered Accountants may be particularly vulnerable to being taken advantage of by syndicates looking to launder money or hide their shady dealings.

Therefore, it’s important that CAs have the tools and ability to recognise when a business or client may be part of an organised crime syndicate.

Chartered Accountant Australia and New Zealand’s Kristen Wydell FCA, General Manager – Professional Standards, and Kate Dixon, Conduct and Discipline Manager, sat down with Aislinn Walwyn, Assistant Commissioner, Integrated Compliance at the Australian Taxation Office, to deep dive into the complexities in this issue, how easy it can be for CAs to get caught up and where they can seek help.

Ethics – Support and guidance for members

As a member you have access to real-world guidance based on professional standards and regulations. Find information, tools and resources to help you manage ethical concerns or dilemmas in your workplace.

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