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Abstract

This study conducts a comparison on the effectiveness of the Law Enforcement Agencies (LEAs) of Australia and Malaysia based on the Mutual Evaluation Report (MER) provided by the Financial Action Task Force (FATF). The results show both countries have the power needed to investigate money laundering and terrorism financing under their respective anti-money laundering act. However, they are facing difficulties in increasing the number of prosecutions for money laundering and terrorism financing cases. Therefore, improvements are needed in curbing this issue. The result suggests that these countries should strengthen the cooperation, coordination and capacity among LEAs to ensure effective targeting, investigation and prosecution of money laundering. The government should also revise money laundering investigation time frame and broaden the power of the LEAs in retrieving information during the investigation process. Unlimited power in gathering evidence is prominent in order to charge the money launders, since it helps to gather information required for the prosecution.

Keywords: Law Enforcement Agencies, money laundering, FATF Mutual Evaluation Reports

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