Is it fair to punish 100,000 lawyers, accountants and estate agents?
If the government wants real estate agents and accountants to become AUSTRAC informants, perhaps it should quantify how much it is likely to cost them, and how much crime is likely to be prevented.
For the past few months, Attorney-General Mark Dreyfus has been warning Australia faces international humiliation over its fight against money laundering and terrorist financing.
Dreyfus has argued that Australia faces the ignominy of being placed on a list of countries which don’t comply with internationally agreed rules. Only three other Group of 20 nations have been so listed: Argentina, Turkey and South Africa, which was sanctioned in February.
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Aaron Patrick was a senior correspondent at The Australian Financial Review.
