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You can always count on The AFR doing the bidding for vested interests.
The latest example comes from Aaron Patrick, who questions why Australia should implement the global tranche 2 anti-money laundering (AML) rules impacting real estate agents, accountants and lawyers, which Australia signed-up to in 2006:
“We’re working to strengthen the AML/CTF [anti-money laundering/counter-terrorism financing] regime after years of inaction and overdue reforms by the former government which has left Australia vulnerable to being ‘grey-listed’ by the global financial crime watchdog, the Financial Action Task Force”, Attorney-General Dreyfus told The AFR last week.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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