Launder your money through Australian real estate!

by | Dec 24, 2021 | The West Report

The flood of black money into Australia proceeds apace, pushing up property prices, as the government dithers on its international pledge to enact money-laundering laws. Callum Foote and Michael West report.

Governments of both stripes have been hemming and hawing for 15 years over the introduction of money-laundering laws, laws which would stem the flood of black market money into Australia’s property market; laws which would finally drag this nation into line with global standards on AML-CTF (that’s the regulatory vernacular for Anti-Money Laundering and Counter Terrorism Financing).

Yet thanks to lobbying and political donations, thanks to the government’s complete failure to stand up to powerful vested interests – lawyers, accountants and property developers – we are still waiting for Tranche II, laws supposed to be enacted by 2008.

Read the full story here:

Michael West established to focus on journalism of high public interest, particularly the rising power of corporations over democracy. Formerly a journalist and editor at Fairfax newspapers and a columnist at News Corp, West was appointed Adjunct Associate Professor at the University of Sydney’s School of Social and Political Sciences.


Don't pay so you can read it.

Pay so everyone can.

Pin It on Pinterest

Share This