Stockbrokers the new Money Laundering Front Line as Illicit Funds target the ASX

Stockbrokers the new money laundering front line as illicit funds target the ASX

Key points:

  • A proposed law change means stockbrokers would not need to identify their clients for up to five days after making a trade
  • Experts say that could open up a new loophole for proceeds of crime to be laundered through the ASX
  • Stockbrokers say they did not ask for the change and most brokers would not take the risk of trading on behalf of an unidentified client

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