Government urged to act on real estate money laundering

Experts say money from international drug trafficking and other crimes is flowing into the Australian housing market and potentially distorting prices for everyday Australians. They have warned the country is lagging behind other developed nations in combating illicit flows into real estate, and are urging the government to act.

A real estate advertising board is seen next to a house in Canberra, Friday, March 1, 2019. (AAP Image/Lukas Coch) NO ARCHIVING Source: AAP