In this investment podcast, Nucleus Wealth Chief Investment Officer, Damien Klassen, Financial Crime Intelligence, Nathan Lynch, and Senior Financial Adviser, Samuel Kerr, delved deep into the world of money laundering. Nathan Lynch explained how dark money has infected the lives of ordinary people – and tainted Australian democracy.
Australia is awash with dirty money. It flows through our economy, keeps banks running, powers big business, puts coffee on restaurant tables, seeps into clubs, pubs, sport, the art world and anywhere that value is moved. It infiltrates real estate, costs billions in policing, and takes a terrible toll on Australian lives.
Topics on the agenda today:
- Australia’s failure to sign onto global anti-money laundering rules;
- Money laundering into Australian property;
- International perceptions of Australia; and
- Will a new government finally lead to reform?
Get a copy of “The Lucky Laundry by Nathan Lynch”
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Samuel Kerr is a Senior Financial Adviser at the MacroBusiness Fund, which is powered by Nucleus Wealth.
The information on this blog contains general information and does not take into account your personal objectives, financial situation or needs. Past performance is not an indication of future performance. Samuel Kerr is an Authorised Representative of Nucleus Advice Pty Limited, Australian Financial Services Licensee 515796. And Nucleus Wealth is a Corporate Authorised Representative of Nucleus Advice Pty Ltd.
What about the AUSTRAC legislation bought in around 2008 /2009? Supposed to be the bees knees in combatting black money . Covered RE agents , bullion dealers, money market dealers shares and Solicitors Trust Accts . Seems when there is a quid in it, nothing can stop the tide?.
Leith has written about this a fair bit in the past. Tranche 2 of the AML, which covers all those actors, was never actually implemented.
What indeed Cloudy. Tranche 2 has been promised for 16 years, with bipartisan political support and a binding international commitment to the FATF/OECD. Yet still the legislation is MIA. Lost in a filing cabinet during the Home Affairs reshuffle? The ‘commitment’ has now outlived 7 Aussie Prime Ministers, includign Scotty from property marketing. Welcome to Australia, the Lucky Laundry …
sp/ including
Really look forward to getting a copy of the Lucky Laundry.
Why is it that everytime someone mentions ‘CORRUPTION’ in Australia… people run a mile.
Its funny how there are less comments then usual.
Im starting to think people have a guilty conscience?
What’s the name of his book?
There’s a clue in the headline Sooly!
https://www.harpercollins.com.au/9781460759912/the-lucky-laundry/