A money laundering and foreign worker exploitation ring has been busted after a long-running probe into the NSW and ACT building sector.

A 55-year-old Chinese national was convicted and fined this week over her involvement in money laundering, tax evasion and foreign worker exploitation within the construction industry.

She was one of four Chinese nationals to be prosecuted as part of an Australian Border Force (ABF)-led investigation.

Since arriving in Australia, organisers of the money laundering cohort have withdrawn more than $137 million for under-the-table cash payments to foreign workers, the ABF and the Australian Taxation Office said in a joint statement.

Eight Canberra-based construction and painting businesses also made electronic payments to an ACT target of the investigation from September 2020 to January 2022.

Warning notices for illegal workers were issued to five businesses in March, before a raid on an ACT premises in May led to the discovery of two people found to be unlawful non-citizens, and $82,000 in cash.

ABF Commander Penny Spies said dishonest construction industry employers often pay workers in cash, depriving them of entitlements such as superannuation.

“All workers deserve fair pay and fair treatment,” she said in a statement on Friday.

“We will continue to disrupt those who seek to exploit foreign workers here in Australia, and they will be brought to justice.”

The multi-agency investigation, dubbed Operation Underpitch, is ongoing.

– AAP