money laundering

Much more can be done to keep foreign criminal funds out of Australian property

Much more can be done to protect Australia’s property market from international criminals seeking to wash their proceeds writes…. Louis de Koker, Deakin University ABC’s Four Corners program recently highlighted concerns that Chinese criminal funds may be propping up Australia’s real estate market. Why is Australia’s anti-money laundering framework not providing sufficient comfort that these concerns…

Criminals using real estate for ‘significant money laundering’

A crime-fighting agency has linked agents to the laundering of tens of millions of dollars reports Nick Bendel in a recent Real Estate Business (REB) article. Here’s what it said: A report by the federal government’s financial intelligence unit, AUSTRAC, has identified real estate as a “significant money laundering channel” in Australia. AUSTRAC said  authorities recovered or restrained…