:quality(80))
Regulation
Millions of dollars caught up in mortgage fraud
AUSTRAC says ‘warning signs were found across banks that together cover the vast majority of Australia’s mortgage market’.
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Regulation
Solicitors convey concerns over AML/CTF obligations
Lawyer-client confidentiality brought into question as AUSTRAC advises to ‘err on the side of caution’.
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Market
Hmmm … no job, no income but $35m cash to buy a house?
Anti-money laundering and counter terrorism financing law reforms introduced next July aim to weed out the dodgy behaviours in the Australian property market. AUSTRAC overseeing the changes highlights extreme real-life examples.
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Regulation
Reforms won’t break you — AUSTRAC chief tells Tranche 2 businesses
In an exclusive interview, AUSTRAC chief executive Brendan Thomas tells conveyancers why the new AML regime is so important and why its built to support, not sink, small operators.