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Casino given monster fine for money laundering breaches
After four years, Star Entertainment Group learns its fate as judge says '"in effect, Star put profit ahead of compliance".
AML/CTF Reform
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Regulation
Conveyancing conundrum: Selling out or staying put
Industry expert says ‘we need government and other peak bodies to listen to what we have to say and the solutions we can provide’.
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Regulation
‘Contentious settlement solution’ under the microscope
Victorian conveyancing body says transparency around customer transactions must be paramount.
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Regulation
Case alleging consumer law breaches has been dropped
Agency Settlements abandons case against Jared Zak, who said it was a ‘pretty wild and ambitious claim to start with’.
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Regulation
Deposit flicking: Real estate agents urged to cease and desist
Real Estate Institute NSW issues alert to agents, saying ‘we are recommending that members not engage with the model’.
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Regulation
Practice raises ‘serious contractual and legislative concerns’
Real Estate Institute of NSW backs calls for deposit flicking to have ‘closer scrutiny’ from authorities.
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Regulation
Agency Settlements slams ‘deposit flicking’ petition
Legal firm says conveyancers’ concerns are ‘malicious, misleading and deceptive’ over its solution for real estate agents.
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Regulation
No escaping accountability despite ‘deposit flicking’
But conveyancing body wants to meet with Fair Trading to stop process of house deposits going to a third party.
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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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Property
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.