Compliance & Anti-Financial Crime
Leadership | Insight | Network

AML, Financial Crime, Financial Services

AUSTRAC tells Senate hearing that criminals are laundering tens of billions in Australian real estate each year

By Elizabeth Hearst for AMLi

Representatives from Australia’s financial crime regulator, AUSTRAC, Australian Federal Police (AFP) and the Australian Criminal Intelligence Commission have told a Senate hearing that criminals are laundering tens of billions in Australian real estate each year. 

It’s believed criminals are using lawyers, accountants and real estate agents to launder tens of billions in illicit funds through Australia’s booming property market each year. 

AML Intelligence
Subscribe now to have unlimited access

With our subscription, you will have unlimited access to the AML Intelligence site, updated daily with the latest analysis, opinion, and breaking news across the sector, newsletter delivered twice per week, access to our Global Bank Fines & Penalties database, free access to Boardroom Series and more!