New laws aim to make it harder to launder ill-gotten gains through property

Australia is cracking down on money laundering through real estate. New laws now require real estate agents, lawyers, and accountants to report suspicious transactions—a major change, according to ABC News Australia. Until now, these professionals have had no legal obligation to flag questionable deals, allowing criminal money to flow through property markets with relative ease. The new rules close what regulators consider one of the biggest vulnerabilities in Australia's financial crime safeguards.

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