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International body suspends anti-money laundering law evaluations

The real estate sector has continually been identified as a weak spot in Australia's anti-money laundering regime, with financial intelligence agency AUSTRAC estimating $1 billion in suspicious transactions from China in 2016.

Edmund Tadros, Angus Grigg and Neil Chenoweth
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A global anti-money laundering taskforce has suspended evaluations of financial crime laws mid-way through an examination of Australia's progress in the area.

The Financial Action Taskforce (FATF), which sits under the G7 major world economies, was due to release its latest Australian report in the coming months, but that process has now been suspended.

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Edmund Tadros leads our coverage of the professional services sector. He is based in our Sydney newsroom. Connect with Edmund on Twitter. Email Edmund at edmundtadros@afr.com.au
Angus Grigg is an investigative reporter based in Sydney. He has worked as a foreign correpondent in China and Indonesia, and has won two Walkley Awards. Connect with Angus on Twitter. Email Angus at agrigg@afr.com
Neil Chenoweth is an investigative reporter for The Australian Financial Review. He is based in Sydney and has won multiple Walkley Awards. Connect with Neil on Twitter. Email Neil at nchenoweth@afr.com.au
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    Original URL: https://www.afr.com/property/residential/international-body-suspends-anti-money-laundering-law-evaluations-20191118-p53bid