When it comes to global rankings, there aren't too many fields where we've been vying for top honours for near on two decades.
As a result, Australian real estate has become a prime target for global money laundering, particularly out of China.Buying a home? Soon you won't have as much competition from drug dealers, corrupt officials and criminals with dirty money thanks to new laws and a boost to enforcement.As a founding member of the Task Force in 1989, we've found ourselves in the embarrassing position of being one of just a handful on nations that don't comply with the measures.
"It's a far better outcome for us all if we can protect everyone in our community and prevent those crimes from occurring in the first place," he said.Mr Dreyfuss said the AFP seized more than 3,000 hectares of Tasmanian farmland purchased by Chinese nationals using the proceeds of crime while a local accountant provided advice on how best to skirt bank triggers and alerts on funds entering the country.
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