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In Australia we were supposed to have tranche 2 ("covering real estate agents, lawyers, accountants, car dealers and others") of the anti-money laundering regul
by jamhan 10y ago
In Australia we were supposed to have tranche 2 ("covering real estate agents, lawyers, accountants, car dealers and others") of the anti-money laundering regulations introduced over 10 years ago. As this article details, it is "comically" overdue:
http://www.smh.com.au/business/banking-and-finance/slated-antimoney-laundering-legislation-is-comically-overdue-20150913-gjlb7j.html http://www.smh.com.au/business/banking-and-finance/slated-an...
While political parties can wallow in the extra taxes garnered from sky-rocketing real-estate prices and sizable party donations they have no incentive to introduce this second tranche.
For example, any party in power in New South Sales will keep its budget in the black simply from "stamp-duty" taxes collected on real-estate transactions.
The Foreign Investment Review Board was and is a farce and that's how the government likes it.