The Nugan Hand merchant bank was the nexus of one of the most significant criminal conspiracies in Australian history. Established in Sydney in 1973, Nugan Hand was backed by the CIA in concert with domestic and international crime organisations. It acted as a front for a plethora of illegal activities, including gun-running, money laundering and tax fraud, most of which were ancillary to the main business: drugs, specifically heroin. Its legacy lives on in the heroin market that the bank helped to build and entrench.