Key Points …
–money laundering in Australian property market from Sudan, China, Malaysia, Papua New Guinea, and Russia
-the real estate gatekeepers are exempt from the second tranche of the AML Laws (Morrison Govt October 2018)
-and flaws with the corporate registry, and the lack of a beneficial ownership register
-the AML Laws have remained the same since 2006
-alleged that lawyers, accountants and real estate agents were opposed to being covered by the laws due to the significant regulatory burden
BUT all that needs to be done is … an internet search to find whether there are issues associated with an individual and consulting the sanctions list on the Foreign Affairs website!
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