Money laundering rules could be expanded to property, tax and law

Countries including the United Kingdom have pushed Australia to beef up the country's anti-money laundering and counter-terrorism financing regime, warning high-end property purchases and other activity could be funnelling suspicious funds into Australia. Earlier this year, an alleged Chinese-Australian money laundering organisation that moved an estimated $10 billion offshore and amassed a blue-chip property portfolio in Sydney was dismantled by federal authorities. The range of crimes related to dirty money extends to terrorism, child abuse and the illicit drug trade. Mr Dreyfus blamed the Morrison government for leaving significant regulatory gaps and vulnerabilities in Australia's laws, saying they had failed…