Senate hearing hears Australia is lagging behind in updating its money laundering and terrorist financing laws

Gerard Cockburn
By Gerard Cockburn
November 9 2021 - 6:30pm
Labor senator Deborah O'Neill flagged money laundering was costing the economy upwards of $50 billion a year. Picture: Elesa Kurtz

Australia is at risk of becoming destination priority one for laundering money if the nation's financial crime laws are not brought into line with the rest of the world.

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