Dayne Brajkovich purchasing gold at the Perth Mint in June 2022.Credit:ABC/ Four Corners
It is not the first time the Perth Mint has faced scrutiny.
In August 2022,anti-money laundering agency AUSTRAC ordered the mint appoint an external auditor amid concerns the precious metals enterprise hadn’t complied with regulations,including the reporting of suspicious matters.
The public order came two years after anAustralian Financial Review investigation led the Perth Mint to stop processing metal sourced from Papua New Guinea miners who used child labour and toxic mercury.
After recently taking a hard line against outlaw motorcycle gangs,including the introduction of several laws to stifle bikies from associating with each other and owning firearms,WA Premier Mark McGowan could face backlash over the Perth Mint’s practices.
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.
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“The business has acknowledged there have been issues in its past that led to some non-compliance with relevant laws,” she said.
“It voluntarily reported those errors and the non-compliance matters are being addressed.
“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.”
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 held $5.85 billion worth of precious metals on behalf of clients in 2021.
“As one of Western Australia’s largest exporters and manufacturers,we distribute about $26 billion worth of pure gold,silver and platinum bullion bars and coins to investors in more than 130 countries in 2020-21,” the company’s website said at the time.