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Real estate agents are excluded from money laundering reporting obligations in Australia - successive governments have dithered and stalled and put off implemen

Real estate agents are excluded from money laundering reporting obligations in Australia - successive governments have dithered and stalled and put off implementing AML Tranche 2 for more than 20 years because the property lobby owns the politicians and the politicians own property. Even now there is enough talk about implementing AML tranche 2 that you might come to believe it will actually happen, but right at the last minute the will be some reason why it can't actually happen. Australia is money laundering paradise and as a result dirty money is pouring in from around the world and sending house prices to the moon because money launderers do not care about a fair price, they care about being able to dump the money.

averageRoyalty 2y ago
> Australia is money laundering paradise and as a result dirty money is pouring in from around the world and sending house prices to the moon because money launderers do not care about a fair price, they care about being able to dump the money. I'm not sure that's true. According to the Foreign Investment Review Board[1], foreign residential purchase only makes up about 1% of sales. Are you positing that this is incorrect data by the FIRB, or that these purchases are made in a different way which eludes this data? If so, how? 1. https://www.abc.net.au/news/2024-06-27/foreign-buyers-china-hk-india-want-australian-property-housing/104024004 https://www.abc.net.au/news/2024-06-27/foreign-buyers-china-...