NZ extends anti-money laundering rules to capture property agents

Sydney

NEW Zealand will extend its anti-money laundering laws to cover real estate agents and other professions amid fears that the country has become a soft target for illegal fund flows that have also helped inflate the property market.

Soaring property prices have become a hot issue among the New Zealand public, and there are concerns that laundered money has fuelled the boom. The opposition Labour Party has also raised co…