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Aussie realty sector exposed to laundering risk

Published Wed, Apr 22, 2015 · 09:50 PM
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Sydney

AUSTRALIA needs to tighten safeguards against money laundering in its booming property market, which has attracted Chinese funds with likely links to corruption, an international anti-money laundering body said in a report released late on Tuesday.

The intergovernmental Financial Action Task Force (FATF) said real estate agents and lawyers have been identified as a high money laundering risk in Australia, where regulations do not r…

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