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Economy

Australia 'economically vulnerable' to money laundering: expert

Author says dependence on foreign funding makes it 'international hub'

In his new book, "The Lucky Laundry," Nathan Lynch examines Australia's role as a "major international hub" for laundering illicit funds.   © AP

SYDNEY -- "The Lucky Laundry," a new book from international financial crime expert Nathan Lynch, opens with the murder of a Vietnamese money launderer in Sydney and ends with an impromptu party on a Saigon street.

In between, Lynch examines Australia's role as a "major international hub" for laundering illicit funds, which has come about partially due to Australia's deep dependence on foreign funding.

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