Australia now ‘destination of choice’ for flow of illicit funds, anti-corruption expert says
Weak and outdated laws are allowing widespread money laundering in the property sector, making Australia a “destination of choice” for illicit funds and “locking many Australians out of owning their own homes”, a Senate inquiry has been told.
The Senate is probing the strength of Australia’s money-laundering and counter-terrorism financing laws, and heard on Tuesday from anti-corruption group Transparency International Australia and its director, former Austrac general counsel Russell Wilson.
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Continue reading...source https://www.theguardian.com/australia-news/2021/nov/09/widespread-money-laundering-in-property-locking-out-australians-from-owning-homes-senate-told
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