HAS AUSTRAC BEEN QUASHED FROM INVESTIGATING BLACK MONEY AWASH IN AUSTRALIAN REAL ESTATE?

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HAS AUSTRAC BEEN QUASHED FROM INVESTIGATING BLACK MONEY AWASH IN AUSTRALIAN REAL ESTATE?

 

Following CAAN’s post on “New AUSTRAC CEO warns of money laundering linked to organised crime!” … 13 April 2018 …

VIEW:

https://www.facebook.com/744190798994541/photos/a.761955963884691.1073741833.744190798994541/1717678824979062/?type=3

ASK the question why hasn’t the second tranche of the Anti-Money Laundering Legislation been enacted? It has been shelved for a decade, and shelved again early in 2018!

DESPITE numerous reports of Transparency International, the Financial Action Task Force, the OECD and others about money stolen from some countries and shifted into Australia for our real estate …

PERHAPS AUSTRAC has not been granted the resources to follow through investigations into the “dirty money” awash in Australian Real Estate? Has there been pressure exerted from those literally living on the fruits of dirty money like that of the developers, builders, foreign developers including a Chinese developer lobby, investor groups including a Chinese investor group, and with A Plan for Three Cities?

Not only with high-rise Precincts on every horizon. Already in RYDE 13,000 units along Epping Road and Macquarie Park with ever more in the pipeline …

But now Sydney is to be further impacted by Medium Density. Last week the NSW Government announced changes to our low density zones for medium density housing. As revealed by the Ryde Mayor what this will mean:

-62.5% of all Ryde land will be unlockable

-people will be outbid by developers looking to make Ryde even more over developed

-currently a duplex development requires a 20 metre frontage
.that amounts to 3 or 4,000 sites

-the NSW Government wants to change that to a 12 metre frontage

.increasing to some 14,460 sites

-the NSW Government wants to add manor homes and terrace housing to Ryde

.manor homes look like a house; contain 4 units; 10,300 sites

AS a consequence of the shelving of the AML second tranche and AUSTRAC being stymied through lack of resources, we suggest this has allowed the work of the Greater Sydney Commission to be justified.

Fancy being justified on an illegality! Fancy being justified on matters clearly against the National Interest!

Community Action Alliance for NSW (CAAN) Facebook:

https://www.facebook.com/Community-Action-Alliance-for-NSW-744190798994541/?ref=aymt_homepage_panel

Website:

https://wordpress.com/post/caanhousinginequalitywithaussieslockedout.wordpress.com/60