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The Guardian - AU

National

Henry Belot

Criminals and corrupt officials may find it easier to launder money in Australia if lawyers given more powers

Australia Clancy Moore AUSTRAC Terrorism

Skyline of Sydney's CBD — It is estimated billions of dollars are laundered in Australia each year and the federal police believe the property market has become an ‘attractive destination’ for criminals. Photograph: Nick Clark/Alamy

Criminal gangs and corrupt officials may find it easier to launder money in Australia if lawyers are given more power to conceal their client’s information from authorities, transparency advocates warn.

Australia is one of the only nations not to force accountants, real estate agents and lawyers to report suspicious transactions – including unexplained wealth used to purchase property – to a financial intelligence agency.

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