Legislation that would further combat organised crime and corruption has passed its first reading in Parliament with unanimous support.
The Organised Crime and Anti-Corruption Bill gives law-enforcement agencies greater powers to tackle illicit activities such as money laundering, fraud and drug-related crime.
It also allows police to share information with their international counterparts, and introduces new offences to address identity crime.
Banks would be required to report all international wire transfers of $1000 or more and all cash transactions of $10,000 or more to a police financial intelligence unit.