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Senate told
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Weak and outdated laws are allowing widespread money laundering in the property sector, making Australia a “destination of choice” for illicit funds and “locking many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.
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Weak and outdated laws are allowing widespread money laundering in the property sector, making Australia a “destination of choice” for illicit funds and “locking many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.
Widespread money laundering in property locking out Australians from owning homes, Senate told
Australia now ‘destination of choice’ for flow of illicit funds, anti-corruption expert says
www.theguardian.com