"Most of Australia's aid program is effectively wasted."
Mr Koim says they have a number of prominent politicians and businessmen on their radar.
"Almost half of the budget (is being stolen. That is how big the problem is," Mr Koim said.
"They see Australia as the Cayman Islands. They see that it is the safest place where they can bring their stolen money from PNG."
There are more than 100 homes in Cairns that belong to Papua New Guineans, a similar number in Brisbane. They inhabit some of the nicest suburbs, and include the prominent PNG politicians and officials.
One such home in Cairns, valued at $585,000, belongs to PNG's petroleum/energy minister William Duma.
Australia's banks have a strong presence in PNG, and Mr Koim says the banks are well aware of the corruption.
