Perth Mint

One of Perth's most recognisable ex-bikies bought $27000 worth of gold from the Perth Mint last year, a Four Corners investigation has revealed.

“The Perth Mint Board has been refreshed, there is a new leadership team in place. They are addressing those legacy issues and we are confident the action they are taking is already starting to make a difference.” A state government spokeswoman said the Perth Mint was committed to adhering to its obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act. The 120-year-old Perth Mint is the only government-owned and guaranteed precious metals enterprise and refines more than 90 per cent of newly mined gold in the country. It is not the first time the Perth Mint has faced scrutiny. They have a legal obligation to look into customers that come in their door, to know who they are and to look into their background.”

A former outlaw who has served time in prison allegedly only had to show his driver's licence to make the purchase worth tens of thousands of dollars.

[Dayne Brajkovich](https://7news.com.au/news/wa/former-hells-angels-bikie-dayne-brajkovich-acquitted-of-gang-insignia-charge-c-9477971), a former Hells Angels bikie who has served time in prison for drug offences, purchased $27,000 in gold from the mint in June last year, the ABC’s Four Corners program reports. A Perth Mint spokeswoman said the corporation “is required to and fulfils its obligation” to report to AUSTRAC if staff suspect a person or transaction is linked to a crime. She said the mint had launched anti-money laundering and counter-terrorism financing remediation programs and processes to improve its engagement with customers. It is also investigating the mint’s compliance with requirements relating to the reporting of suspicious matters. The auditor is examining whether Gold Corporation, trading as Perth Mint, has complied with anti-money laundering and counter-terrorism financing obligations. [notorious former bikie](https://7news.com.au/news/bikie) was reportedly allowed to purchase tens of thousands of dollars worth of gold from [Perth Mint](https://7news.com.au/news/perth) without extensive screening.

Heavily tattooed Dayne Brajkovich, 43, who has a swastika tattooed on his chin and 'bad news' on his forehead, bought the gold at Perth Mint in June, ...

'As part of adherence to the AML/CTF Act, The Perth Mint is required to and fulfils its obligation to lodge a Suspicious Matter Report with AUSTRAC if we suspect a person or transaction is linked to a crime.' 'The mint is complying with the processes under the audit and the mint itself is investing heavily in anti-criminal behaviour and compliance measures.' The Mint is also accused of failing to register 5000 international money transfers in just nine months, with a possible fine of $21million for each offence, as well as possible criminal charges. Perth Mint (pictured) is now at the centre of an official money laundering investigation after concerns were the state government-owned agency is being targeted by criminals CCTV caught the moment infamous Aussie bikie Dayne Brajkovich (pictured) queued up at a gift shop to buy $27,000 worth of gold - without a single check on where his money came from The Mint is now at the centre of an official money laundering investigation amid concerns the state government-owned agency is being targeted by criminals.

The Mint is currently being investigated by the financial crimes regulator over concerns the organisation may have breached anti-money laundering laws. “I think ...

The Perth Mint has claimed a notorious former bikie's purchase of $27000 of gold with minimal effort was treated with the 'utmost seriousness'.

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Gold bullion bars are pictured after being inspected and polished at the ABC Refinery in Sydney on Aug. 5, 2020. (David Gray/AFP via Getty Images)MOREHIDE.

She said the mint had launched anti-money laundering and counter-terrorism financing remediation programs and processes to improve its engagement with customers. A Perth Mint spokeswoman said the corporation “is required to and fulfils its obligation” to report to AUSTRAC if staff suspect a person or transaction is linked to a crime. Perth Mint remains under investigation by financial crime regulator AUSTRAC, which last year ordered the appointment of an external auditor to the West Australian government-owned corporation after identifying compliance concerns.

In a bid to save money the world's largest processor of newly mined gold started "doping" its bullion. Then its customers started asking questions.

In the end the SGE chose not to make its complaint public and accepted assurances around quality from the mint. and therefore the customer's concerns could not be verified". "It happened in the first place because of poor systems management and incompetence on the refining side. Including coins, bullion, anything?'," the insider says. the impact of negative public statements on the business could be very significant," the internal report said. becomes available". But once they found it, they knew what they were doing. He did not respond to Four Corners' questions or a request for an interview. At today's gold prices, buying back that amount of bullion would cost $8.7 billion. From the outset there were signs of trouble. "Based on average understandings of volumes … Last year alone it sold $20.3 billion in gold.

The Opposition Leader has come out swinging against the State Government after years of raising concerns about Perth Mint's financial crime laws compliance, ...

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The WA government-owned Perth Mint, which is the largest refiner of newly mined gold in the world, started 'doping' its gold in 2018 by mixing it with ...

the impact of negative public statements on the business could be very significant,' the internal report said. 'Based on average understandings of volumes … The 124-year-old Perth Mint is the biggest refiner of newly mined gold in the world Up to 100 tonnes of gold the Perth Mint sold to China's Shanghai Gold Exchange potentially does not meet it's standards Some of the gold the SGE tested from Perth Mint exceeded the allowable silver content. Astonishing claims emerge the Perth Mint sold up to $9B of dodgy gold to a Chinese exchange - as it's revealed the state-owned facility faces fraud and money laundering investigations and could be forced to pay the money back

Australia's only producer of gold bullion may have minted almost $9 billion of substandard bars, diluted with other metals, but kept the discovery quiet.

The accusation checked out, Perth Mint discovered, when it looked into its records regarding the batch sent to China. “But that’s beside the point. It’s also been revealed that the Perth Mint, which was founded in 1899 before Australia became a nation, sold $27,000 of gold to an ex-bikie but failed to investigate the “red flag” transaction. This is when non-gold metals, like silver or copper, are added to the mix to lower the overall gold content. It states online that its gold is 99.9 per cent pure. The Mint said it no longer had a business relationship with the Bank of Cyprus but didn’t say if it still had relationships with its customers. The Mint estimated that if it had to recall all 100 tons of gold it had shipped to Shanghai it could be on the nose for $8.7 billion. The Mint have a legal obligation to look into customers that come in their door to know who they are, and to look into their background. [ABC](https://www.abc.net.au/news/2023-03-06/perth-mint-gold-doping-china-cover-up-four-corners/102048622) that as Chinese laws did not allow the bars to be returned for inspection it “could not be verified” there was a larger purity issue. And it raised the possibility that all the gold bars sent to SGE had similar defects. In 2021, the Shanghai Gold Exchange (SGE), a key buyer of Perth produced gold, told the Mint a number of the bars it had received contained too much silver and not enough gold. The Perth Mint is the world’s biggest processor of new gold and is the only mint globally with a government guarantee.

It comes after allegations a notorious bikie was able to purchase $27,000 worth of gold, with just his drivers license. The State Opposition says the government ...

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Premier Mark McGowan has been told to stop hiding in the wake of shocking revelations that the Perth Mint had been selling diluted gold bullion to China and ...

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Sky News Reporter Crystal Wu says the state government-owned Perth Mint potentially faces a $9 billion recall after selling diluted gold to China.

Western Australia's opposition calls for a royal commission into the Perth Mint after allegations about the government-owned organisation were aired on the ...

"I'm not an expert on these issues. WA Opposition Leader Shane Love said WA taxpayers had been "exposed to potentially billions of dollars of cost … "We're doing all we can to make sure that we protect the Perth Mint and make sure that the processes being undertaken by the Perth Mint are above question and that's why the work is ongoing now to make sure that we address all those issues that have been raised." "There needs to be an independent inquiry, and the best way to have an independent inquiry is to have a royal commission," he told reporters. The Nationals MP pointed to a recent royal commission into the state's only casino, and an inquiry into the City of Perth as two examples where "things of much less risk to the WA community" had been inquired into. "This is a hugely important matter for the West Australian taxpayer, the West Australian community and it involves – at the heart of it – the Premier of the state."

It comes after allegations a notorious bikie was able to purchase $27,000 worth of gold, with just his drivers license. The State Opposition says the government ...

Four Corners plunged the state-owned enterprises into turmoil with a report claiming they failed horribly in meeting anti-money laundering and ...

How much of that has been altered with silver?” he said. Four Corners claimed the mint failed to register more than 5000 international movements of money over a nine-month period. Shanghai Gold Exchange was contacted for comment. The mint recognised the reputational damage this could cause if it was made public. With the premier nowhere to be seen in Perth on Tuesday, Transport Minister Rita Saffioti faced a barrage of questions about the issues facing the mint and Gold Corp but could not answer any. This doping practice could leave taxpayers exposed in that the mint may have to purchase the gold back and recast it to acceptable purity, which would mean transport and refinery cost on top of the purchase back.

Four Corners plunged the state-owned enterprises into turmoil with a report claiming they failed horribly in meeting anti-money laundering and ...

How much of that has been altered with silver?” he said. Four Corners claimed the mint failed to register more than 5000 international movements of money over a nine-month period. Shanghai Gold Exchange was contacted for comment. The mint recognised the reputational damage this could cause if it was made public. With the premier nowhere to be seen in Perth on Tuesday, Transport Minister Rita Saffioti faced a barrage of questions about the issues facing the mint and Gold Corp but could not answer any. This doping practice could leave taxpayers exposed in that the mint may have to purchase the gold back and recast it to acceptable purity, which would mean transport and refinery cost on top of the purchase back.

The Western Australian Opposition Leader has called for a Royal Commission into the Perth Mint, amid a slew of allegations levelled at the precious metals ...

Perth Mint is the only mint in the world with a government guarantee, and is the largest processor of newly mined gold in the world. Perth Mint CEO Jason Waters is due to front the media in Perth on Tuesday afternoon to respond to the ABC investigation. The Western Australian Opposition Leader has called for a Royal Commission into the Perth Mint, amid a slew of allegations levelled at the precious metals processor.

The Western Australian Opposition Leader has called for a royal commission into the Perth Mint, amid a slew of allegations levelled at the precious metals ...

Perth Mint is the only mint in the world with a government guarantee, and is the largest processor of newly mined gold in the world. Perth Mint CEO Jason Waters is due to front the media in Perth on Tuesday afternoon to respond to the allegations. The mint began cutting its bars with silver in 2018 — an accepted industry practice, and not illegal in and of itself — but now faces having to recall $8.7b worth of gold bullion sold to the Shanghai Gold Exchange (SGE).

Perth Mint's international reputation has been damaged by gold "doping" revelations and past anti-money laundering failures, its chief...

we'll be held to account for it and we're going to get better," he said. "These sorts of issues are bad for our reputation ... Mr Waters said those concerns were "historical" but conceded the mint still needed to improve its systems and transparency. Mr Johnston is in Asia for a trade mission and Premier Mark McGowan is yet to comment on the Perth Mint revelations. Mr Waters said he had discussed the topic with Mines Minister Bill Johnston upon taking office but declined to comment on when the government had become aware of the practice or the size of the potential taxpayer liability. But he said it was "unacceptable" the mint had breached the tougher Shanghai specifications and exposed itself to reputational harm.