Michael West is among the few commentators willing to call out the billions of dollars of laundered money ploughed into Australia’s property market, contributing to the current affordability crisis:
As mainstream media, particularly Nine, is funded by property ads, we don’t see many stories about money laundering.
But money-laundering – often wealthy foreign buyers parking money in Australian property – has been booming for years. That is despite promises made 17 years ago that accountants, lawyers and property developers would become subject to Anti Money Laundering-Counter Terrorism Financial (AML-CTF) laws as banks and casinos are…
