ABC investigation reveals Dayne Brajkovich bought $27,000 worth of gold

An ABC investigation has revealed that former Hells Angels sergeant-at-arms Dayne Brajkovich bought $27,000 worth of gold from the Perth Mint without being subjected to the legally required rigorous checks on sales to any customer deemed ‘high-risk’.

The purchase was made at the Perth Mint gift store in June 2022, and Brajkovich was only asked for his driver’s licence. The Perth Mint is the only refinery in the world underwritten by a government, and the alleged holes in its compliance regime could cost taxpayers billions of dollars. Brajkovich’s purchase will feature in a Four Corners exposé on the mint’s operations.

The episode will highlight major issues in the Perth Mint’s compliance regime. The mint has a legal obligation to look into customers that come in their door, to know who they are and to look into their background. The program does not suggest that the money used to purchase the gold was sourced illegally.

However, financial crime expert Nathan Lynch said Brajkovich should have faced a better screening process given his history, which included a jail sentence for possessing a commercial quantity of MDMA and recent convictions for being armed in public and assault.

Anti-money laundering agency AUSTRAC has previously ordered the mint to appoint an external auditor amid concerns the precious metals enterprise hadn’t complied with regulations, including the reporting of suspicious matters. In addition, in 2020, the Perth Mint stopped processing metal sourced from Papua New Guinea miners who used child labour and toxic mercury following an Australian Financial Review investigation.

As the only government-owned and guaranteed precious metals enterprise, the 120-year-old Perth Mint refines more than 90 per cent of newly mined gold in the country and held $5.85 billion worth of precious metals on behalf of clients in 2021. The company’s website stated that it distributed 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 allegations come after Western Australian Premier Mark McGowan introduced laws to stifle outlaw motorcycle gangs, including several laws to prevent bikies from associating with each other and owning firearms. The Premier could now face backlash over the Perth Mint’s practices.