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Accountants, estate agents may have to report dirty cash suspicions

Tom McIlroy
Tom McIlroyCanberra Bureau Chief

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Accountants, lawyers and real estate agents look set to be required by law to report suspicious transactions to authorities, as part of an upgrade to anti-money laundering protections.

Alongside countries including China, Haiti, Madagascar and the United States, Australia is one of a handful of developed countries without tough rules against the use of dirty cash in property transactions and trusts, after moves to introduce so-called “Tranche 2” reforms stalled under the Coalition.

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Tom McIlroy is the Financial Review’s Canberra Bureau Chief based in the press gallery at Parliament House. He was previously the AFR’s political correspondent. Connect with Tom on Twitter. Email Tom at thomas.mcilroy@afr.com

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    Original URL: https://www.afr.com/politics/federal/money-laundering-rules-could-be-expanded-to-property-tax-and-law-20230420-p5d1zf