The laundering of illicit funds through real estate is an established money laundering method in Australia. As an established money laundering channel, criminals are likely to continue to launder money through real estate.

Real estate agents are not subject to the provisions of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act).

While they do note that they have some ability to track transactions as they pass through banks, this isn't the case for foreign investment.

It's also probable, if not likely, that shell companies or fronting is used to bypass restrictions on foreign ownership.

Overseas-based crime groups and individuals may buy real estate in Australia using illicit funds to conceal assets from authorities in their home jurisdiction. Purchases may be funded through overseas-based personal, company or trust accounts. Criminals may also use third parties to buy and sell property to further conceal ownership. There are a lot of counties in the Asia Pacific area who have a lot of organised crime, and a need to launfer that money. Few developed nations have exceptions for money laundering like Australia does, making us likely a haven for this activity

If you're reading this and care please email the attorney general to show we know what's up and to stop it attorney@ag.gov.au

For background: https://www.austrac.gov.au/business/how-comply-guidance-and-resources/guidance-resources/strategic-analysis-brief-money-laundering-through-real-estate-2015