Fifth person charged over money laundering

A fifth person has been charged over an alleged $100 million money-laundering syndicate operating in southwest Sydney.

The 31-year-old man was arrested at Parramatta Police Station on Thursday.

Police allege he was a member of the syndicate and deposited large sums of cash at financial institutions, with the money sent to China.

He is due to appear at the Parramatta Local Court on Monday charged with participate in a criminal group and contribute to a criminal activity, and knowingly deal with proceeds of crime with intent to conceal.

Two 30-year-old men, a 29-year-old man and a 30-year-old woman are also before the courts.

Police allege the group has been operating since 2016 and laundered in excess of $100 million.