The Australian Greens believe the $420,000 in prizemoney should be held by the Government until it can be sure the money won't be used to fund Mr Kadyrov's dictatorship.

Mr Kadyrov, the richest man in the former Soviet state, has been likened to Saddam Hussein and Kim Jong-il because of the human rights abuses and murders he has allegedly perpetrated in Chechnya.

One of the pre-race favourites, Mourilyan ran a late third behind the Queensland galloper Shocking and runner-up Crime Scene.

It was a lucky result, otherwise even more money would be funnelled to Mr Kadyrov, Greens leader Bob Brown said yesterday.

''There should be no flow of profits out of Australia to this brutal character.

''The money should be quarantined until the Government knows exactly where it is going and can guarantee it won't be buying Mr Kadyrov another Lamborghini or gold-plated revolver.''

He wants racing authorities to set up a system that would assess the credentials of overseas owners who seek to profit from Australian racing.

Experts suggested earlier that the Melbourne Cup could become part of an international money laundering system if Mourilyan, which raced in the red, white and green of the Chechen flag, won any prizemoney.

Mr Kadyrov was believed to have watched the race from the Chechen capital, Grozny.

Away from the Mourilyan controversy, Shocking's win destroyed the fairytale of South Australian farm horse Alcopop and of Bart Cummings' attack on a 13th Melbourne Cup.

Cummings rued missing out on his 13th Cup when second favourite Viewed finished seventh.

While Cummings was disappointed, Shocking's trainer Mark Kavanagh celebrated his first Cup.

The win turned around what had been a disastrous spring carnival.

He had firm Derby favourite Shamoline Warrior scratched on the morning of the race last Saturday, weeks after Maldivian and Cats Whisker suffered carnival-ending injuries.

The most fancied import, Changingoftheguard, was a dramatic scratching after vets declared him lame on the morning of the race, infuriating trainer David Hayes. AAP