AUSTRAC BOSS says Real Estate Gatekeepers should report Money Laundering in Property

‘Lawyers, accountants and real estate agents should report suspicious activity’ … that’s what the AUSTRAC boss said. 

SO what is the problem? Why is this not in force?

Commentator Thucydides wrote:

‘The “government’s” own department estimates the amount of “hot” money being laundered through the Australian property market at $36 BILLION a year…..

(think about that for a while, FIRST HOME BUYERS)

Mostly through Lawyers, Accountants and Real Estate Agents….. who have miraculously managed to avoid being included in the AML legislation for the last eight years, despite Australia being legally obliged to include them by International Treaty.

Must be a simple coincidence that they would also be overwhelmingly donors to the Liberal Party… ‘

Could that be why the Morrison Government … cough … cough … is still considering whether to introduce the Second Tranche of the Anti-Money Laundering Laws having exempted these gatekeepers back in October 2018?

Read more!

+https://www.smh.com.au/politics/federal/lawyers-accountants-and-real-estate-agents-should-report-suspicious-activity-austrac-boss-20201020-p566ng.html#comments