ANALYSIS: AFP money-laundering bust highlights Australia's gaping real estate vulnerability
There's an A-focused alphabet soup of regulators to satisfy – ASIC, APRA, ACCC, AUSTRAC – oversight bodies like AFCA and BCCC, and then pesky journalists writing about when things don't go well.
This is what the Australian Federal Police allege had been going on for years, casting a fresh spotlight on a potential gaping hole in Australia's anti-money-laundering monitoring — real estate agents, lawyers and accountants, none of whom are obliged to report suspicious transactions.
In this case, the police allege the syndicate used "multiple jurisdictions by multiple means", including exploiting daigous , casino junkets and an informal transfer system outside of conventional banking.
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