New money laundering laws to stop bikies, Mafia, working with lawyers, real estate agents, accountants

A new report reveals the Aussie industries which are prime targets for money laundering, amid tough new laws to counter the crime.

Exclusive Dodgy real estate agents, accountants and lawyers will be hit with tough new laws to stop them working with bikies, drug traffickers and the Mafia.

Attorney-General Mark Dreyfus will introduce legislation on Wednesday to bring Australia into line with almost 200 countries which have cracked down on money laundering.

It comes as a new report from the Australian Institute of Criminology (AIC) found that real estate and gambling were the most vulnerable targets for dodgy cash.

“Reducing the amount of money laundered by organised crime groups would significantly limit their ability to reinvest illicit funds in future criminal enterprises,” Mr Dreyfus said.

“The Australian Government is committed to strengthening our anti-money laundering regime through these reforms which are critical in protecting Australians and our economy from the impact of transnational, serious and organised crime.”

The AFP restrained this waterfront home on Hope Island in Queensland. Picture realestate.com.au

The proposed laws, known as “tranche 2”, were first flagged 17 years ago but have faced stiff opposition from industry bodies.

The Real Estate Institute of Australia claimed it would make agents the defacto workforce of the financial watchdog Austrac, while the New South Wales Bar Association said it would be “too costly”.

New laws will target money laundering through bikie gangs.

Drug traffickers, bikies, organised crime and the Mafia launder $60 billion a year through Australia’s economy.

That money can fund further drug shipments, or set up legitimate businesses to make it almost impossible to trace the origin of the money.

The 57-page AIC report to be released on Monday found lawyers, accountants and real estate agents supercharged money laundering operations.

“A notable finding from this study was the significant role that professional facilitators play in laundering the proceeds of crime made by organised crime groups,” the report said.

“Overall, groups with professional facilitators were linked with much higher value suspicious transactions.”

Attorney-General Mark Dreyfus KC. Picture: David Crosling

The report also found that money laundering through “real estate and gambling” … “were responsible for much higher value suspicious transactions”.

The use of gambling to hide dodgy cash raises further questions about how much Australian money was being bet on offshore wagering platforms, out of reach of authorities.

Separately, The Australian Federal Police restrained more than $15 million worth of luxury waterfront homes and apartments in Queensland in August.

The AFP has restrained this home at Broadbeach Waters, Queensland. Picture realestate.com.au

The properties were linked to Russian couple Dmitry Rimskiy and Alexandra Bugrova who have been charged with dealing with the proceeds of crime.

They have denied the charges.

The pair, who moved to Australia in 2015, are accused of using laundered funds to “rapidly repay” mortgages on Queensland homes, including at Broadbeach Waters.

They were due back in Southport Magistrates Court for a mention hearing on October 21.

Dimitry Rimskiy, 49, outside Southport Magistrates Court in Queensland.

In a separate case, three Chinese nationals were jailed in August for an “eye watering” money laundering scheme that deposited cash in ATMs and moved cash through international students’ bank accounts.

Victorian County Court Judge Michael Cahill jailed Boliang Liu for 5.5 years and Tao Zhou for 3.5 years, while Wei Wang pleaded guilty but has yet to be sentenced.

They laundered $62 million, with Liu found to have $913,000 cash along with money counting machines when arrested in 2021.

Originally published as New money laundering laws to stop bikies, Mafia, working with lawyers, real estate agents, accountants