Australia's reputation as an ethical place to do business is being damaged by its lack of action over money laundering. In a single year AUSTRAC estimates there were around $1 billion worth of suspicious real estate transactions, but a lack of reporting requirements mean no-one knows how big the problem really is.

Read more here: https://ab.co/2FfNF6R

For more from ABC News, click here: http://www.abc.net.au/news/

Advertisement
Start a season-long league with your friends. Play for a share of $1,000,000. Get a free entry into the NFL Sunday Million with your first deposit. Payable Action: Deposit (Minimum $10) Restrictions: No incent. State restricted (see offer targeting).

More videos