Asia-based crime syndicates routing stolen proceeds through Australian real estate

Australians are being struck a second time by Asia-based crime syndicates routing stolen proceeds through real estate. It is believed this activity can contribute to escalating house prices that lock younger generations out of the market. Investigation authorities said a crackdown on money laundering through casinos in Australia had prompted scammers to turn to Australian real estate. Real estate is a highly attractive money-laundering vehicle because large sums can be moved with relative ease.